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BHIM’s 15.2M transactions accounted for only 1.9% of UPI payments in April 2019

The number of transactions on the Bharat Interface for Money (BHIM) UPI app was 15.2 million for the month of April 2019, up 2% from 14.9 million last month. The total value of the transactions stood at Rs 6,583.6 crore, up 3% from Rs 6,417 crore in March 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 781.8 million UPI transactions in April 2019, with Rs 142,034 crore being transacted. Thus, BHIM processed only 1.9% of all UPI transactions and accounted for 4.6% of the amount transacted in April. In the previous month, BHIM had accounted for 1.9% of all UPI transactions and processed 4.8% of the amount transacted.

The Times of India reported that amount worth of Rs 43,000-Rs 45,000 crores 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 113 banks, up from 111 as compared to the previous month, and has seen over 45.5 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.

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In terms of net additions, the number of transactions for BHIM grew marginally by 0.23 million in April 2019 – the highest addition was in June 2018 – while the total amount transacted went up by Rs 166.6 crore. In the previous month (March 2019), the number of transactions went up by 2.09 million and the amount transacted increased by Rs 792.8 crore.

With more increase in the number of transactions, the average amount per transaction for BHIM has been on the decrease. In April, the average amount per transaction was Rs 4,345.

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