wordpress blog stats
Connect with us

Hi, what are you looking for?

BHIM’s 16.9M transactions accounted for only 1.8% of UPI payments in August 2019

The number of transactions on the Bharat Interface for Money (BHIM) UPI app was 16.9 million for the month of August 2019, up 5.5% from 16 million last month. The total value of the transactions stood at Rs 6,132 crore, up marginally from Rs 6,121.7 crore over July, according to data provided by the National Payments Corporation of India (NPCI). NPCI is a bank-owned organization that runs the Unified Payments Interface (UPI). In May 2019, the Economic Times reported that Google Pay reported 240 million transactions, Flipkart-owned PhonePe reported around 230 million, and Alibaba owned Paytm reported 200 million in transactions.

There is no data available on WhatsApp payments regarding its ongoing pilot.


There were 918.4 million UPI transactions in August 2019, with Rs 154,504.9 crore being transacted. Thus, BHIM processed only 1.8% of all UPI transactions and accounted for 4% of the amount transacted in August. In the previous month, BHIM had accounted for 2% of all UPI transactions and processed 4.2% of the amount transacted.

Currently, BHIM is live on 117 banks, gradually increased 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.

In terms of net additions, the number of transactions for BHIM grew by 0.88 million in August 2019 – the highest addition was in March 2019 – while the total amount transacted went up by Rs 10.4 crore. In the previous month (July 2019), the number of transactions went up by 0.52 million and the amount transacted decreased by Rs 80.8 crore.

With more increase in the number of transactions, the average amount per transaction for BHIM has been on the decline. In August, the average amount per transaction was Rs 3,630.6.

You May Also Like

News

The National Payments Corporation of India is in the process of rolling out a completely open source platform for the Unified Payments Interface (UPI)...

News

MobiKwik’s net revenues grew by 134% to ₹379 crore at the end of FY20 from ₹162 crore on the back of higher revenue from...

News

Non-bank lender Bajaj Finance is planning to enter the competitive Unified Payments Interface (UPI) market with its own third-party app called Bajaj Pay. The...

News

Digital payment adoption has grown significantly in the last year, reflecting a secular trend among Indian consumers and businesses, TR Ramachandran VISA Inc’s group...

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

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ