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Axis Bank processed 81mn UPI transactions in Q4-FY18; 0.87mn on SamsungPay

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Axis Bank says it processed over 81 million UPI transactions during the quarter ended March 31st, 2018, claiming to have a market share of 17% on the platform. This is a substantial decline from around 95 million UPI transactions reported last quarter. The company did not disclose how many of these  81 million were low-value transactions or cashbacks. Its total number of transactions using UPI were over 190 million UPI (Unified Payment Interface) transactions till date across apps for its 11.5 million VPAs. One reason for the growth in the processing of UPI transactions 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: 12% – Mobile Banking: 16% – Point of Sales terminals: 16% – UPI: 17% Axis Bank says it has a registered customer base of 13.65 million. Last quarter, it had said that it had a registered base of 9.5 million. Axis Pay, the banks UPI app has over 11.5 million VPAs. Last quarter, it had 6.5 million VPAs. Samsung Pay Around 161,800+ Axis Bank cards were registered for SamsungPay in 13 months, with around 0.87 million bank accounts using the @pingpay VPA. Last quarter, this was around 130,000 cards, over 10 months, and around 0.65 million bank accounts using @pingpay. Axis Bank says it has over 16,150 merchants on-boarded for UPI, more than 5 times the 3078 merchants it reported last quarter. Axis Bank’s partners…

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