PhonePe remains a continuously leading UPI app. Its market share is 41.21 percent. In January 2021, there have been around 2.35074 billion transactions from a total of 56 UPI apps. After PhonePe, Google Pay comes another name in this list.
The WhatsApp payment feature suffered in January 2021. According to data from the Unified Payment Interface (UPI) released by the National Payment Corporation of India (NPCI), UPI-based digital transactions from WhatsApp are registering a decline of nearly 31 per cent in January 2021 as compared to December 2020. During this period, there were 5,60,000 transactions, which was 8,10,000 in December. On the other hand, PhonePe remains a continuously leading UPI app. Its market share is 41.21 percent. In January 2021, there have been around 2.35074 billion transactions from a total of 56 UPI apps. After PhonePe, Google Pay comes another name in this list.
WhatsApp suffered heavy losses
Facebook’s paid app WhatsApp reported a 22 per cent increase in January’s January payment value to 36.44 crore. Earlier in December, the figure was Rs 29.72 crore. WhatsApp was allowed to add payment features in India only in November last year. The same PhonePe has received more than 968.72 million transactions in January, worth Rs 1,91,973.77 crore. PhonePe’s transaction volume recorded a growth of 7.39 percent from 902.03 million in December.
Transaction details from the rest of the app
India has the highest UPI transaction from Google Pay in January after PhonePe. Google Pay has received 853.53 million transactions worth Rs 1,77,791.47 crore. The transaction value of Google app increased by 0.1 percent to 854.49 million in December from Rs 176,199.33 crore in December. Google Pay’s market share stood at 36.31 per cent in January.
Paytm Payment Bank has been ranked third with 281.18 million transactions. This led to a total transaction of Rs 33,909.50 crore in January. Paytm Payments had a market share of 14.15 per cent during this period. It has seen an increase of 8.6 percent in December against a 9.6 percent increase.
Amazon Pay has received 46.30 million transactions. It is priced at Rs 4,044.38 crore. Also, the market share was 1.97 percent.
NIMI’s BHIM app received 23.38 million transactions worth Rs 7,462 crore in January. It has recorded a fall of 5.72 per cent. In India, UPI transactions in January 2022 registered a growth of 3.06 per cent.