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Axis Bank processed 79mn UPI transactions in Q1-FY19; 1mn on SamsungPay

axis bank

Axis Bank says it processed over 79 million UPI transactions during the quarter ended June 30th, 2018, claiming to have a market share of 10% on the platform. This is a decline from around 81 million UPI transactions reported last quarter. The company did not disclose how many of these 79 million were low-value transactions or cashbacks. Its total number of transactions using UPI were over 262 million UPI (Unified Payment Interface) transactions till date across apps for its 14.6 million VPAs. It is to be noted that Axis Bank is one of four partners for Google Tez, facilitating processing of payments across UPI-enabled banks. Note that its rival ICICI Bank said that it had 15.4 million VPAs generated from its mobile applications in the quarter ending June 30th 2018. Axis Bank Marketshare Claims – Debit Cards: 7% – Credit…

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