The number of transactions on Bharat Interface for Money (BHIM) UPI app was 9.6 million for the month of January 2018, and the total value of the transactions stood at Rs 3,647.2 crore. This was marginally up from transactions of 9.1 million worth Rs 3,083.2 crore in December 2017. However, when the massive growth in UPI payments is taken into consideration, it is actually a decline. There were 151.8 million UPI transactions in January, with Rs 15,571 crore being transacted. Thus, BHIM processed only 6.32% of all UPI transactions and accounted for 23.42% of the amount transacted in January, which almost identical to December 2017. Note that we don't have the data for UPI transactions on PhonePe for January 2018. In December 2017, PhonePe accounted for 15% of all UPI transactions. On the other hand, Google Tez had reported 140 million transactions for the months of October and November 2017 since launch, apart from 12 million users. It’s likely that the battle is now between Tez and PhonePe, apart from the cashback transactions which Tez hasn’t accounted for. Following the launch of Google Tez on September 18, 2017, there was significant increase in the number of UPI transactions, which now seems to have plateaued. There was a 149% growth between September-October 2017, 37% growth between October-November 2017, 39% growth between November-December 2017, and just a 4% growth between December 2017 and January 2018. In January 2018, number of transactions using BHIM grew to 9.6 million, up 6% from 9.1 million last month, while…
- What Made It Easier For Fraudsters To Access People’s Biometrics, Aadhaar Details In Kolkata? October 4, 2023
- Bengaluru gig workers, taxi drivers demand ban on commercial carpooling services October 4, 2023
- Karnataka invites agencies to set up an Information Disorder Tackling Unit October 4, 2023
- Watch Live Today: International trends in Network usage fees October 4, 2023
- “Why Does Prasar Bharati need my money?”: YouTuber Meghnad’s Copyright Struggles with Government Content October 4, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...