Axis Bank says it processed over 95 million UPI transactions during the quarter ended December 31st 2017, claiming to have the highest marketshare in the industry, of 29%. The company did not disclose how many of these were Re 1 (or low value) transactions. It’s total number of transactions using UPI were over 109 million UPI (Unified Payment Interface) transactions till date across apps for its VPAs. This is a significant jump from around 11 million UPI transactions reported last quarter, so that should give you an idea of the impact that new entrants like Google Tez and Paytm’s UPI integration have had. One reason for the growth in processing of UPI transations is the fact that Axis Bank is one of four partners for Google Tez, facilitating processing of payments across UPI-enabled banks.
Axis Bank Marketshare Claims
– Debit Cards: 7%
– Credit Cards: 11%
– Mobile Banking: 16%
– Point of Sales terminals: 16%
– UPI: 29%
Axis Bank says it has a registered customer base of 9.5 million. Last quarter, it had said that it had a registered base of 4.4 million. Axis Pay, the banks UPI app has over 6.5 million VPAs. Last quarter, it had 2.1 million VPAs.
Around 130,000+ Axis Bank cards were registered for SamsungPay in 10 months, with around 0.65 million bank accounts using the @pingpay VPA. Last quarter, this was around 93,000 cards, over 7 months, and around 0.4 million bank accounts using @pingpay.
Axis Bank says it has over 3,078 merchants on boarded for UPI, almost 5 times the 600 merchants it reported last quarter. Axis Bank’s partners for UPI acceptance include Google, IRCTC, LIC, Uber, Ola, IOCL, BPCL, Future Group, Reliance Digital, etc.
Axis Bank counts UPI transactions as a part of its Mobile Banking transactions, and said that mobile banking transaction volumes surged by 219% YOY while the amount transacted in Q3 reported a growth of 71% YOY, primarily led by surge in UPI transactions. Mobile banking logins were 4.9 times Internet banking logins, and around 38% of Mobile Banking customers bank were only on Mobile App. 56% of Axis Bank’s active customers are Digitally active. 38% of mobile banking customers prefer using the mobile app only.
Point of Sales terminals
“The Bank is the second largest acquirer of point-of-sale terminals in the country with installed base of 0.47 million POS terminals.”
In addition, the deepening of digital transactions allows better data harvesting, and new opportunities in areas previously out of reach of banks.
-53% of Current Account Savings Accounts sourcing is via Aadhaar eKYC. Last quarter it was 50%. (We’re not sure of what this means, but if you know, leave a comment or email firstname.lastname@example.org)
– Axis Bank BMTC Smart Card, with the Bangalore Metropolitan Transport Corporation, had over 15 million merchant outlets, and 133,000 cards issued till date. Last quarter, this was 1.3 million merchant outlets and 123,000 card issued.
– The share of digital transactions in the overall transaction mix for the Bank remained strong and stood at 66% as at end of December 2017.”
– 27% Brank to mobile migration
– Overall digital transaction volumes increased by 15% on a YOY basis while the branch transactions continued to trend downwards
– The Bank had 4.2 million credit cards in force at the end of the quarter, making it the 4th largest credit card issuer in the country, with a market share of 11%. Credit Card spends in Q3 increased by 59% YoY to Rs 11,725 crores, and Debit Card spends grew 4% YoY to Rs 8722 crores.
Axis Bank, in partnership with m-Junction, was one of the three entities allowed by RBI to set up the Trade Receivables Discounting System (TReDS), an electronic platform for facilitating cash flows for MSMEs. Invoicemart now has a marketshare of nearly 50% among all TReDS platforms. The company has more than 250 participants, and has clocked more than “Rs 200 crores in financed throughput by e-discounting nearly 7500 invoices. It has 7 Financiers on-boarded on the platform.