According to the Unified Payment Interface (UPI) data released by the National Payment Corporation of India (NPCI), WhatsApp seems unable to convince more users to use its payment function because the app experienced negative growth in UPI transactions in January. ). However, in terms of the transaction volume of all 56 applications reported by NPCI (23.504 billion transactions), PhonePe continues to lead UPI applications with a total market share of 41.21%. The strong position of apps owned by Walmart makes it difficult for Google Pay to return to the top of the list because it still ranks second.

Data published on the NPCI website shows that UPI transactions via WhatsApp dropped from 810,000 in December to 560,000 in January, a drop of nearly 31%. Despite the significant drop in transaction volume, Facebook-owned applications can still receive more than 22% of the payment amount, reaching Rs. It was 364.4 billion in January. It is from Rs. A month ago, 297.2 million were reported. However, in terms of transaction volume, its market share is only 0.02%.

WhatsApp received approval for the expected payment function in November-despite the tiered approach. Initial restrictions and limited adoption and recent criticism of its privacy policy update may be the main reasons for its poor performance.

In contrast, PhonePe processed 968.2 million transactions in January, valued at Rs. 1,91,973.77 million. The transaction volume of the PhonePe application increased by 7.39% from 90.03 million transactions in December. In the past two months, the value of transactions processed through PhonePe has also increased by more than 5%.

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The Google Pay transaction amount second only to PhonePe was 855.3 million rupees, ranking second. It was 1,77,791.47 million in January. The transaction volume of Google apps dropped by 0.1% from Rs 8.849 crore in December, worth Rs. 176,199.33 million. Calculated by transaction volume, its market share is 36.31%.

Paytm Payments Bank continues to rank third with 281.18 million customer-initiated transactions (value Rs). The total income in January was 33,909.50 million. Calculated by transaction volume, its market share is 14.15%. Compared with the data in December, the application’s customer-initiated transaction volume increased by 9.6%, and the transaction volume exceeded 8.36%. Next is Amazon Pay, which processed 46.3 million transactions worth Rs. Rs 4,044.38 crore, with a market share of 1.97%.

NPCI’s BHIM application processed 23.38 million transactions in January, totaling Rs. 74.294 million. Compared with the data provided in December, transaction volume fell by 5.72% and transaction value fell by 3.68%. Calculated by transaction volume, its market share is 0.99%.

Overall, UPI transactions in the country increased by 3.06% in January to 2,302.73 million. These transactions are worth Rs. A total of Rs 4,31,181.89 crore, higher than Rs. According to NPCI data, it was 4,16,176.21 million in December.


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