PhonePe maintains lead in UPI with 49% market share in jan 2022
- ByStartupStory | February 10, 2022
UPI recorded 461 Cr exchanges in January 2022 worth INR 8.31 Lakh Cr ($111.3 Bn). While the number has been the always most elevated throughout the entire existence of UPI, it just rose by 1% month-on-month. The application shrewd execution has not changed either, and just recorded a normal single-digit development month-on-month. PhonePe drove the UPI numbers with INR 4.05 Lakh Cr exchanges. Google Pay kept up with its subsequent lead, with exchange esteem tumbling to worth INR 2.98 Lakh Cr.
Next were Paytm (with exchanges tumbling to INR 85,125 Cr); Amazon Pay (with exchanges ascending to INR 6,729 Cr) and WhatsApp Pay (with exchanges worth INR 205 Cr). In 2021, PhonePe came out on top on all key measurements including worth and volume of exchanges, enrolled clients along with shipper inclusion. The startup has been the market chief in UPI with more than 46% portion of the overall industry in the volume of exchanges handled a year ago.
Curiously, while PhonePe’s portion in exchange counts continued as before for January 2022, exchange volume share rose to 48.7%. Further, in 2021, the startup professed to have crossed the 350 Mn enrolled client mark, timing a 28% normal month-on-month development from January to December 2021.
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