Update on December 4: Truecaller Pay: user metrics Less than 25% of the user base comes from the top 6 cities. According to Sony Joy, VP of Payments at Truecaller, the payments user base demographics are slightly different from the other UPI services whose large chunk of users are usually based in the top 6-8 cities. 60% of users come from Tier 2 and Tier 3 cities Currently, 1/3rd of the users are completely new to UPI 50% users in FY2019 will come from emerging markets in the country and they will be first time users of UPI Truecaller Pay is onboarding 25 million users by the end of FY2018 Joy told MediaNama that an average user typically carries out three kinds of transactions on Truecaller Pay — peer-to-peer takes up 40%, recharges and bill payments take up 50%, and merchant payments and other payments take up 10%. "Over time, the ratio of bill payments will increase since people have the option to make bill payments easily only now," he said. Inbox & Payments: Joy said that out of the 70-80 million global users of Truecaller's inbox service, 65-70 million of them were in India.Truecaller will fine tune its ability to distinguish between financial information SMSs and promotional messages, both from banks. The app is also looking to integrate its inbox with payments: its working on active buttons on the inbox service which will redirect users to payments directly. Lending: Truecaller Pay will launch its lending product by the first half of 2019, said Joy. The product will offer unsecured loans between Rs 25,000 to Rs 200,000, starting for a period of…
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