PhonePe nears 9 Bn UPI transactions in July; groceries, fast food drive volumes

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India’s UPI ecosystem continued to be dominated by PhonePe and Google Pay in July as they jointly captured more than 81% of total customer-initiated transaction volume and value.

According to data released by the National Payments Corporation of India (NPCI), UPI processed an all-time high of 19.47 billion transactions worth Rs 25.08 lakh crore in July.

Out of the total, PhonePe (8.93 billion) accounted for a commanding 45.88% share in terms of volume, followed by Google Pay (6.92 billion) with 35.56%. Of the total transaction value of Rs…



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PhonePe nears 9 Bn UPI transactions in July; groceries, fast food drive volumes


India’s UPI ecosystem continued to be dominated by PhonePe and Google Pay in July as they jointly captured more than 81% of total customer-initiated transaction volume and value.

According to data released by the National Payments Corporation of India (NPCI), UPI processed an all-time high of 19.47 billion transactions worth Rs 25.08 lakh crore in July.

Out of the total, PhonePe (8.93 billion) accounted for a commanding 45.88% share in terms of volume, followed by Google Pay (6.92 billion) with 35.56%. Of the total transaction value of Rs…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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