wordpress blog stats
Connect with us

Hi, what are you looking for?

BHIM saw 16.3M transactions in June 2018 accounting for only 6.6% of UPI payment

The number of transactions on Bharat Interface for Money (BHIM) UPI app was 16.3 million for the month of June 2018, up 15% from 14.2 million last month, and the total value of the transactions stood at Rs 6,261 crore, up 9% from Rs 5,748.5 crore in May 2018, according to data provided by the National Payments Corporation of India (NPCI). The NPCI is the bank-owned organization that runs the Unified Payments Interface (UPI).

There were 246.4 million UPI transactions in June, with Rs 40,834 crore being transacted. Thus, BHIM processed only 6.6% of all UPI transactions and accounted for 15.3% of the amount transacted in June. In the previous month, BHIM had processed 7.5% of all UPI transactions and accounted for 17.3% of the amount transacted.

Economic Times reported that Paytm accounted for 38% of all UPI transactions, followed by Google Tez with 22% of UPI transactions in June 2018. In February, PhonePe claimed that it accounted for 16% of all UPI transactions. There is no data available on WhatsApp payments since its initial launch.

Currently, BHIM is live on 92 banks and has seen over 30 million app downloads. However, the NPCI, which developed BHIM, does not give information on the number of virtual payment addresses (VPAs) created and the number of accounts linked to the UPI.

In terms of net additions, the number of transactions for BHIM grew by 2.18 million in June 2018 – highest addition ever, while the total amount transacted was up by Rs 512.8 crore. In the previous month (May 2018), the number of transactions added 1.56 million, and the amount transacted had grown by Rs 775.8 crore.

With a growth in the number of transactions, the average amount per transaction for BHIM has been on the increase. In June, the average amount per transaction was Rs 3,832.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'


India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...


There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data


Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.


The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

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...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


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...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ