![]() ![]() I personally use PhonePe for all my P2P and P2M transactions, because of its broader transactional options. ![]() Whatsapp, Legged in due to omnipresence.BHIM, Govt.’s main Core UPI app (P2P MS: 8%).Mobikwik, Famous for mobile recharge & wallet services.PayTM, Another major UPI & Wallet service but has a huge user base (P2P MS: 13%).PayU, Improved more merchant transactions.PhonePe, Major UPI player in after GPay (P2P MS: 15%).Soon, months later after the launch of UPI many companies started a new shift & Direct Competitors were found like Google shares 44% of Peer to Peer UPI market share, which makes it the segment leader. Later they joined with UPI transactions to make it. The political decisions also boosted their temporary usage & conversion metrics. Some major players like PayTM, Freecharge & Mobikwik provided wallet services, which were running in lite buzz, before the launch they were indirect competitors. What is interesting is that many of these people were adopting digital payments for the first time. In the last two years, instant bank-to-bank transfers via Unified Payments Interface (UPI) have become the preferred mode of payment for millions in the country. The heterogeneous landscape has many contradictions and complexities, with even network quality fluctuating from 4G to 2G in a blink. India now has approximately 460 million people using the internet that number is only growing. India's online payments landscape saw a massive surge of growth after demonetization - so much so that it is now one of the fastest-growing fin-tech markets in the world. ![]()
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