This is a 1 % leap in quantity and a 6.Four % surge in worth for UPI from November which had seen 2.21 billion transactions worth Rs 3,90,999 crore.
Unified Payments Interface or UPI has crossed Rs 4 trillion worth transactions in a month. The digital funds system has recorded 2.23 billion transactions amounting to Rs 4,16,176.21 crore or Rs 4.16 trillion in December 2020, in accordance to NPCI (National Payments Corporation of India). This is a one % leap in quantity and a 6.Four % surge in worth for UPI from November which had seen 2.21 billion transactions worth Rs 3,90,999 crore.
Google Pay and PhonePe management greater than 80 % market share in the UPI ecosystem. As of November, Google Pay had the biggest market share with 960.02 million transactions via UPI adopted by PhonePe’s 868.40 million. However, PhonePe had processed extra transactions in phrases of worth through the month.
Data revealed by NPCI confirmed that PhonePe had recorded Rs 1,75,453.85 crore worth transactions whereas Google Pay recorded Rs 1,61,418.19 crore in phrases of the worth of the transaction in November.
NPCI is but to publish the market share for UPI-enabled apps in December.
In November, NPCI had allowed one other participant to enter the UPI ecosystem. Facebook-owned WhatsApp Pay was given the approval to go dwell on UPI.
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