The number of transactions on the Bharat Interface for Money (BHIM) UPI app was 14.9 million for the month of March 2019, up 16.3% from 12.8 million last month. The total value of the transactions stood at Rs 6,417 crore, up 14% from Rs 5,624.2 crore in February 2019, 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 799.5 million UPI transactions in March 2019, with Rs 133,460.7 crore being transacted. Thus, BHIM processed only 1.9% of all UPI transactions and accounted for 4.8% of the amount transacted in March. In the previous month, BHIM had processed 1.9% of all UPI transactions and accounted for 5.3% of the amount transacted. The Times of India reported that amount worth of Rs 43,000-Rs 45,000 crore were transacted on Google Pay, surprisingly more than Paytm and PhonePe in March. In terms of transactions, Paytm is still on lead, followed by Google Pay and PhonePe. In July 2018, Phonepe accounted for 40% of the UPI transactions. In June 2018, Google Tez accounted for 22% of all UPI transactions. There is no data available on WhatsApp payments since its initial launch. Currently, BHIM is live on 111 banks, up from 109 as compared to the previous month, and has seen over 43 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…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
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...
Advert
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...
News
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...
News
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...