Google Pay on track to meet NPCI’s 30% market share limit

As UPI rapidly becomes the default merchant payment app in the country, eclipsing debit and credit card transactions, PhonePe gains at Google Pay’s expense

author-image

By 

Pratik Bhakta

April 13, 2021

3 Min Read

{The Crux brings you crisp and incisive analysis on the developments that matter. It’s a free read.}

Google Pay stands out among the major UPI apps for the sharp slowing in its growth rate. Between December and March, transactions originating on the app increased just 12%, Google Pay’s slowest pace since it began operations in 2017 to enable real-time bank transactions on smartphones through the Unified Payments Interface.

PhonePe grew at 25% between November and March, becoming the largest UPI app by market share. Amazon Pay grew at 40% in this period, but has a miniscule share of all UPI transactions. Paytm grew at 32%, as per the latest data released by the National Payments Corporation of India.

Join now to continue reading

Sign in using

Or

Sign in using your email

Don't have an account?

Forgot Password?

By signing up for The CapTable you agree to the

Terms of Service

and

Privacy Policy

of the platform.

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and disruptive startups so you can make better decisions.

Filtering the Noise

New economy companies cannot always be evaluated using traditional methods. We analyze the relevant metrics, ask the tough questions to get you the right picture.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View

We thrive on inside scoops and decoding boardroom conversations so we can bring you a 360° view of what’s happening at India’s high-growth companies.

share-button
like-button
share-button

For subscribers only

Premium Reads

>>

View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.