But who’s ruling the UPI game? Well, it’s still Google Pay, PhonePe, Paytm, and CRED holding the fort. In March, Google Pay handled 5 billion transactions totaling around INR 7 trillion, PhonePe processed 6.5 billion transactions worth INR 10 trillion, and Paytm recorded 1.2 billion transactions amounting to INR 1.3 trillion. Additionally, Amazon Pay saw 65.3 billion UPI transactions last month.
It is important to mention that Flipkart introduced its UPI service in January, but it was only available to a small group of users. According to a reliable source, Flipkart’s UPI service was launched for approximately 10,000 users in the initial batch that month. The company intended to expand the service nationwide in the coming weeks.
Additionally, Flipkart collaborated with Axis Bank for its UPI services. The @fkaxis UPI handle will facilitate various transactions, such as online and offline purchases, ecommerce transactions, recharges, and bill payments.