Online transactions and mobile banking have bloomed high in Pandemic season. Among all the UPI payment operators, Google pay and PhonePe have taken full advantage of the situation. They left no space for any other platform to enter the unified payments interface (UPI) market in India. The National Payments Corporation of India (NPCI), published the transactions data for the month of October showing that Google Pay and Phonepe together contributed 81% to the total online money transfer. 

The data shows with 857.81 million transactions Google Pay has performed better than Phonepe which made 839.88 million transactions in the month of October. The amount of money that were transacted, Phonepe stands highest. According to the NPIC data, transactions worth Rs 1,68,085.06 crore were done through the Walmart acquired Phonepay whereas Google pay has made Rs 1,65,654.71 crore worth transactions. 

Together Googlepay and Phonepe marks 86% of the total amount transacted through UPI platforms in October. Other contributors includes Amazon Pay and PayTM. Paytm stands at third place with 244.94 million transactions valued at Rs 27,489.33 crores obtained only 11% of the market. Amazon Pay laid back with 46.59 million transactions worth Rs 3,854.49. WhatsApp payment feature introduced in the same month was used just 70,000 times for the transaction of a total of Rs 9.32 crore in October. 

Paytm Money enables investors to instantly apply for all the latest IPOs

WhatsApp takes on Amazon, Flipkart with this new feature

India's digital financial approach is a global model, says Bill Gates