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UPI Payment Space - India Market Outlook

  1. UPI Payment Space A Market Outlook A Report By: Last Updated: 2 Mar 2019
  2. What is UPI ▪ UPI stands for Unified Payment Interface ▪ Launched in Jan 2016 ▪ It works on VPA (Virtual Payment Address) which is like an email id to which money can be transferred instantly using IMPS (Immediate Payments Service) without disclosing sensitive bank account details like account number, payee name, ifsc code, etc. ▪ UPI is the advanced version of IMPS.
  3. Available UPI apps in the Market 1. SBI Pay 2. HDFC Bank Mobile banking 3. ICICI Pockets 4. Axis Pay UPI app 5. Union Bank UPI app 6. PNB UPI 7. PhonePe 8. Canara Bank UPI - emPower 9. United UPI (from United Bank of India) 10. Andhra Bank One 11. Bank of Maharashtra - Maha UPI 12. Vijaya UPI 13. South Indian Bank - SIB M-Pay 14. KBL Smartz UPI 15. OBC - Oriental Pay 16. DCB Bank UPI and many more….
  4. 3 Key UPI Players in India Volume of Transactions during Jan 2019 1. Paytm - 221 Mn 2. Google Pay - 220Mn 3. PhonePe - 220Mn Paytm 221Mn Google Pay 220Mn PhonePe 220Mn
  5. Industry Landscape ▪ National Payments Corporation of India (NPCI) reports month-wise transactions to be increasing as follows:
  6. Industry Landscape Contd... ▪ Jan 2019 recorded 672.75 Mn transaction valued at Rs. 1.09 Lakh crore ▪ Feb 2019 recorded 674.19 Mn transaction valued at Rs. 1.06 Lakh crore. ▪ Average daily transaction volume in Jan 2019 was 21.70 Mn transactions. ▪ Average daily transaction volume in Feb 2019 was 24.07 Mn transactions. ▪ Growth in daily transaction is at 10.95%
  7. Merchant Overview ▪ Total number of merchant transaction is not more than 100-120 Mn per month ▪ UPI Payments for cab rides is hitting 2 Mn per month and increasing considerably
  8. Govt. Promoted - BHIM ▪ Govt promoted BHIM is losing pace with in UPI battle due to deep discounting/offers provided by private players. ▪ BHIM reported 14 Mn transaction in Jan 2019, compared to 17 Mn transaction in Dec 2018. ▪ In Feb 2019, BHIM reported 12.83 Mn transaction compared to 14 Mn transaction in Jan 2019. An 8.22% Downfall. ▪ But the average transaction size is still the highest with BHIM compared to other apps.
  9. UPI transaction metrics As per Jan 2019 Data, ▪ Average ticket size of UPI transaction stands at Rs. 1600. ▪ Average ticket size of BHIM stood at Rs. 4436. ▪ Average ticket size of Paytm UPI could be Rs. 1907 ▪ Average ticket size of PhonePe UPI could be Rs. 1300 ▪ Average ticket size of Google Pay could be Rs. 1200 Source: Economic Times
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