WhatsApp processes 3.1 lakh UPI payments in debut month

  • by

In the first month of its launch, WhatsApp payments has processed 3.1 lakh UPI payments worth Rs 13.87 crore.

The data was released by the National Payments Corporation of India on the UPI ecosystem statistics for the month of November.

WhatsApp went live with its UPI offering on November 6, after NPCI gave it approval to expand its UPI user base in a graded manner starting with a maximum registered user base of two crore in UPI.

The top UPI apps in terms of number of transactions however, continued to be Google Pay and PhonePe with 96 crore and 86.84 crore transactions respectively, in November.

Homegrown PhonePe, however, pipped Google Pay to the top slot when it came to the value of transactions processed in November. While PhonePe processed payments worth Rs 1.75 lakh crore this month, Google Pay amounted to Rs 1.61 lakh crore last month.

As many as 3.71 crore transactions totalling Rs 3,524.51 crore were processed on AmazonPay.

The government’s BHIM app processed 2.35 crore payments with a high transaction value of Rs 7,472.20 crore last month.

The Unified Payments Interface (UPI) platform maintained its popularity as a digital payment channel in November with transaction touching a record high at 221 crore transactions worth Rs 3.9 lakh crore.

The data showed that in all there were 132.46 crore peer-to-peer UPI transactions amounting to Rs 3.29 lakh crore. Peer-to-merchant transactions stood at 88.55 crore worth Rs 61,045.73 crore last month.

Paytm Payments Bank processed 26 crore UPI transactions in November amounting to Rs 28,986.93 crore.

Meanwhile, amongst banks, Yes Bank apps processed the highest number of UPI transactions at 1.89 crore worth Rs 1,998.22 crore.

ICICI Bank came second with 1.27 crore payments transacted through its UPI platform amounting to Rs 2,811.39 crore.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *