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PhonePe beats Google Pay again; emerges as UPI's best mobile app
PhonePe
Google Pay has moved to the second position with 854.49 million transactions worth 1,76,199.33 crore.
As per the data provided by National Payments Corporation of India (NPCI), PhonePe, Walmart's owned digital payments platform, was shown to have outperformed Google Pay. According to updates, PhonePe has become the leading Unified Payment Interface (UPI) app in December. PhonePe has also processed 902.03 million transactions representing a total of Rs 1.82,126.88 crore, according to the latest data released by the NPCI.
On the other hand, Google Pay has fallen to the second position with 854.49 million transactions worth 1.76,199.33 crore. In particular, both represent more than 78 percent of the total of 2,234.16 million UPI transactions in December. The NPCI stated that the two apps also captured more than 86 percent of UPI's total transaction volume of Rs 4,16,176.21 crore.
NPCI data showed that PhonePe had seen a more than 3.87 percent increase in UPI transaction volume and a 3.8 percent increase in transaction value in December compared to 868, 4 million transaction volume and Rs. 1.75,453.85 crore of transaction value recorded in November.
Whereas, Google Pay similarly saw a drastic drop of more than 11 percent in transaction volume and more than 9.15 percent in December's transaction value. It dominated the UPI application market in November, with 960.02 million transactions at Rs total value 1,61,418.19 crore.
Additionally, Amazon Pay and NPCI's BHIM app became the fourth and fifth leading UPI apps in terms of transaction volume in December. While Amazon Pay initiated 40.53 million transactions worth Rs. 3,508.93 crore, BHIM processed 24.80 million transactions worth Rs. Rs 7,748.29 crore in December.
NPCI also stated that WhatsApp processed 810,000 transactions worth Rs. Rs 29.72 crore in December, down from 310,000 transactions worth Rs. 13.87 million rupees in November.
