Discussion PhonePe - News & Updates

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Cable TV payments live on PhonePe iOS. Three operators available.


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UPI, a four-year-old payments infrastructure built by India’s largest banks, surpassed 2 billion transactions last month, exactly a year after hitting the 1 billion monthly transactions milestone.

Driving the transactions for UPI — which has become the most popular digital payments method in India thanks to its open architecture that allows interoperability among all participating payments apps — are Walmart’s PhonePe, Google Pay, Paytm, and Amazon Pay.

“Unlike China, we have given equal opportunities to both small and large domestic and foreign companies,” said Dilip Asbe, chief executive of NPCI, the payments body behind UPI, in an earlier interview. The 2.07 billion UPI transactions in October processed $51.9 billion in value, up from $25.7 billion in October 2019. Asbe has previously said that NPCI is planning to expand UPI outside of India.

Walmart’s PhonePe zips past Google Pay in India as UPI tops 2B monthly transactions – TechCrunch
 
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