In the first three months (January-March) of 2022 in the country, more than 14.55 billion transactions worth Rs 26.19 lakh crore were done through UPI. This figure of transactions in volume terms is around 99 percent from the same period of 2021 and over 90 percent in value terms.
According to a Worldline report released on Monday, a total of 9.36 billion transactions worth Rs 10.25 lakh crore took place in the first quarter of this year through various payment channels such as debit-credit cards, mobile wallets, prepaid cards, and UPI P2M (Person to Merchant). In this UPI P2M (Person to Merchant) transactions have emerged as the most preferred payment medium amongst the consumers. It has a market share of 64 percent in terms of volume and 50 percent in terms of value.
Highest payment from these banks
SBI, HDFC Bank, Bank of Baroda, Union Bank, and Paytm Payments Bank.
These banks pay the most
Paytm Payments Bank, SBI, Yes Bank, Axis Bank, and ICICI Bank.
credit card count increased
The number of credit and debit cards increased to 99.12 crores in January-March. During this period, the number of credit cards increased by 19% to 7.36 crores. The number of debit cards increased by just two percent to 91.76 crores from 89.8 crores. 2.3 crore debit cards were discontinued during this period.
Make the most of these apps
PhonePe, Google Pay, Paytm Payments Bank, Amazon Pay, and Axis Bank's apps were the most used in terms of volume for transactions through UPI.
PhonePe, Google Pay, and Paytm accounted for 94.8 percent in terms of volume, while all three apps accounted for 93% in terms of value.
Other important information in the report
Credit cards saw 2.02 billion transactions worth Rs 8.77 lakh crore in three months.
94.27 crore transactions worth Rs 1.81 lakh crore were done through debit cards.
840.23 billion was paid through Aadhaar based payment service, which is up 33% year-on-year.
A total of 60.7 lakh PoS machines were operational as of March 2022.
The country's e-commerce market is worth $46.2 billion, which will grow to $188 billion in 2025.
HDFC Bank, SBI, ICICI Bank, Axis Bank, and RBL Bank issued the maximum number of credit cards.
SBI, Bank of Baroda, Canara Bank, and PNB issued a maximum number of debit cards.
Today is the last day of the auction of gifts received by Prime Minister Narendra Modi. This auct
In the first match of the 16th season of the Indian Premier League (IPL 2023), Gujarat Titans def
The World Test Championship Final (WTC 2023) is being played between India and Australia. Austral
The Supreme Court stayed the release of Annu Kapoor's film 'Humare Barah'. The film, which was to
In the NEET paper leak case, 33 members of the solver gang from Purvanchal, Bihar, Jharkhand, Tri
On Wednesday, terrorists carried out a cowardly act on Pakistan's border with Iran. Terrorists ha
The news of the murder of underworld don mafia leader Dawood Ibrahim is coming out in Karachi, Pa
Suryakumar Yadav's bat is wreaking havoc on the Wankhede ground. Batting in a stormy manner, Sury
After the defeat in the Milkipur assembly elections of Uttar Pradesh, Samajwadi Party chief Akhil
Chief Minister Yagi Adityanath is on a two-day visit to Mumbai for preparations for the Global In
