{"id":1919,"date":"2019-09-03T18:34:21","date_gmt":"2019-09-03T13:04:21","guid":{"rendered":"https:\/\/rzpwp.blog\/?p=1919"},"modified":"2025-02-12T17:50:43","modified_gmt":"2025-02-12T12:20:43","slug":"upi-data-august-2019","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/upi-data-august-2019\/","title":{"rendered":"Bengaluru Records Highest UPI Transactions – 40% in August"},"content":{"rendered":"

The secret sauce behind digitisation is the rapid adoption of technology that becomes a solution only after it solves a specific challenge. UPI has been hailed as the future of digital payments in India, a solution that\u2019s adding newness, stirring an uprising of new world order in payments.<\/span><\/p>\n

And, supporting this digital hullabaloo are the cities that never sleep.<\/span><\/p>\n

UPI contribution across regions – The numbers will guide us home<\/b><\/h2>\n

Seems like Karnataka has been pushing the right buttons. 30.10% of India\u2019s digital transaction makes the southern heart the numero-uno in UPI transactions. Namma Bengaluru lived up to its name and gobbled 40.06% of UPI transactions among the top 15 cities of India.<\/span><\/p>\n

Maharashtra has seen a steady flow of 14.37% of UPI transactions, while Pune contributed 8.7% towards the growth.\u00a0<\/span><\/p>\n

No rest for the growth rate in Andhra Pradesh, as the numbers pile up to a healthy 11.90%, which makes Hyderabad the second most-digitised city after Bengaluru.\u00a0<\/span><\/p>\n

Here\u2019s a Tier wise split infographic.\u00a0<\/span><\/p>\n

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There\u2019s no stopping now. Yes, Tier 1 cities like Bengaluru, Hyderabad, Mumbai and Chennai are adding the necessary fire to the digital economy, which is responsible for 66.43% of UPI transactions in the country.\u00a0\u00a0<\/span><\/p>\n

However, Tier 2 and 3 cities have maintained the order with 27.87% and 5.70% of the digital home run. We also see Pune, Kolkata, Jaipur, Gurgaon and Noida joining the rush.\u00a0<\/span><\/p>\n

UPI transaction In the last six months – Days of future past\u00a0<\/b><\/h2>\n

The rush is for real, and things are about to change.<\/span> Enough said, let\u2019s investigate the figures from March 2019 to August 2019.\u00a0<\/span><\/p>\n

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There\u2019s been a dramatic turn of events in terms of growth, and authorised transactions for August, only shows how UPI could soon be a stepping stone of sustainable growth for an interoperable digital payments<\/a> ecosystem.\u00a0<\/span><\/p>\n

UPI trend In August – Like the Rock of Gibraltar<\/b><\/h2>\n

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As consistency and chemistry go hand in hand, Google Pay, again, rakes in the highest moolah with 59.75% UPI transactions. Yes, sustaining an audience is hard, and someone knows how to raise the stakes.\u00a0<\/span><\/p>\n

Whereas, facing the behemoth is PhonePe with an accelerating contribution of 24.91% of UPI transactions. As the numbers roll further, significant players like Paytm and BHIM muster 5.93% and 4.73% respectively.\u00a0<\/span><\/p>\n

And, not to forget the banks. To name a few dominant players, ICICI, SBI, Axis and HDFC collectively contribute less than 2% of UPI transactions.\u00a0<\/span><\/p>\n

UPI app wise growth – And justice for all\u00a0\u00a0<\/b><\/h2>\n

Let\u2019s talk about growth.\u00a0<\/span><\/p>\n

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The favourite of the masses, Google Pay has capped a 14.60% growth rate in August. This isn\u2019t all, PhonePe is on the rims to call it even with a 12.93% advancement in this number tear-jerker.\u00a0<\/span><\/p>\n

While Paytm has recovered and witnessed a 4.49% improvement in August. In terms of adoption, everyone tasted success except the NPCI powered BHIM app<\/a> with a negative 0.49% drop compared to July.\u00a0<\/span><\/p>\n

And, the tides have turned for the banks as HDFC ousts ICICI from the top spot with a 10 pointer. Whereas, SBI and Axis maintain the ground with 9.90% and 4.32% growth rate.\u00a0<\/span><\/p>\n

Contribution across payment modes – Meanwhile, on the flipside\u00a0<\/b><\/h2>\n

It’s interesting to find that the contribution as well as the growth of the UPI players are on the same rate in August. We can debate all-day-long over plastic money and digital payments, but the preference of the customers do matter.\u00a0<\/span><\/p>\n

Let\u2019s see what the numbers say.\u00a0<\/span><\/p>\n

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