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Axis Bank processed 122M UPI transactions, market share down 2% in Q2FY19

axis bank

Axis Bank processed over 122 million UPI transactions during the quarter ended September 30, 2018. It claims to have a market share of 8% on the platform. This is significantly higher from around 79 million UPI transactions reported last quarter, although it then claimed a market share of 10%. The total transaction value from these 122 million transactions grew 22 times YoY to Rs 13,320 crores. The company did not disclose how many of these 122 million were low-value transactions or cashbacks. The total number of cumulative transactions using UPI was over 384 million UPI transactions to date across apps for its 18.8 million VPAs. This cumulative number includes debit transactions for Axis Pay, Axis Merchants accounts, Samsung Pay, Google Pay transactions from individuals, merchants and fulfillment transactions (Axis Bank is one of the four partners for Google Pay.) As of June 30, the bank had processed 262 million UPI transactions for its then 14.6 million VPAs.  Note that its rival ICICI Bank said that it had 21 million VPAs from its mobile applications in the quarter ending September 30 2018. Axis Bank claims the market share of: Debit Cards: 7% Credit Cards: 12% Mobile Banking: 17% Point of Sales terminals: 15%, down by 1% QoQ UPI: 8%, down by 2% QoQ Note that all the above metrics have remained flat, except for UPI transactions and PoS terminals share. Axis Bank says it has a registered customer base of 26 million up from 19.9 million last quarter.  Axis Pay It appears…

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