According to National Payment Corporation of India (NPCI), Unified Payments Interface or UPI has crossed transactions of worth Rs 4 trillion in a month. The recorded digital payments system shows the transaction of 2.23 billion amounting Rs 4,16,176.21 crore or Rs 4.16 trillion in December 2020.
— Rajeev Mantri (@RMantri) January 3, 2021
This november had seen 2.21 billion transactions amounting Rs 3,99,900 crore recorded the rise of 1% in volume and 6.4 percent surge in value for UPI. Looking at the UPI ecosystem, more than 80% share owned by Google Pay and PhonePe in the market share. In view of november month, with 960.02 million transactions through UPI, Google Pay had the largest market share followed by PhonePe’s 868.40 million.
However, PhonePe has been used more than Google Pay in terms of value this month. NPCI’s data revealed that in this month of November, PhonePe has recorded Rs 1,75,453.85 crore worth transactions while Google Pay recorded Rs 1,61,418.19 crore in terms of the value of transactions.
Another player Facebook owned WhatsApp Pay has allowed to go live on UPI.