NEW DELHI: Even as it is mired in legal trouble in India, GPay, or the online payments application of Google, has cornered the highest share of Unified Payments Interface (UPI) transactions.
National Payments Corporation of India’s data shows that total UPI transactions reached about 800 million in March 2019, up from just 178 million a year ago. Of all UPI-based payments app, GPay accounts for a lion’s share of 54 per cent of merchant transactions, according to data by start-up Razorpay on fintech trends.
This was followed by PhonePe at 11.9 per cent and Paytm at 9.7 per cent. BHIM or Bharat Interface for Money, however, has been losing steam (with 4 per cent) over the past few months as more transactions are flowing via private non-bank apps.