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UPI transactions near 17 Bn in January

EntrackrEntrackr · 5m ago
UPI transactions near 17 Bn in January
Medial

UPI transactions near 17 Bn in January The Unified Payments Interface (UPI) recorded 16.99 billion transactions worth Rs 23.48 lakh crore in January, reflecting a 39% year-on-year growth in transaction volume and a 28% increase in transaction value. On a monthly basis, UPI saw a 1.55% growth in volume and nearly a 1% rise in value, compared to 16.73 billion transactions worth Rs 23.25 lakh crore in December. According to data released by the National Payments Corporation of India (NPCI), the average daily transaction count stood at 548 million. PhonePe currently leads the UPI market with a 47.7% share of transaction volume, followed by Google Pay at 36.7% and Paytm at 6.87%. This market share distribution is unlikely to change soon, as NPCI has extended the compliance timeline for Third-Party App Providers (TPAPs) exceeding the UPI volume cap. The new deadline has been extended by two years, until December 31, 2026. Meanwhile, NPCI has lifted the user onboarding limit for WhatsApp Pay, allowing the platform to offer UPI services to its entire user base across India. Recently, NPCI Chief Dilip Asbe disclosed that approximately 450 million users are currently utilizing UPI, with around 200 million daily active users. He emphasized the need for substantial support from the Reserve Bank of India (RBI), the government, and the broader financial ecosystem to explore strategies for onboarding an additional 200-300 million users onto the UPI platform.

UPI transactions surge 8% in December

EntrackrEntrackr · 6m ago
UPI transactions surge 8% in December
Medial

UPI transactions surge 8% in December Unified Payments Interface (UPI) recorded 16.73 billion transactions worth Rs 23.25 lakh crore in December, marking an 8% increase in volume and a 7.88% rise in value compared to November. On a year-on-year basis, this reflects a 39% year-on-year (YoY) growth in volume and a 28% increase in value, according to data released by NPCI (The National Payments Corporation of India). The average daily transaction count for December was 540 million, with a total daily transaction value of Rs 74,990 crore. In November, the daily average transaction count was 516 million, with a daily transaction value of Rs 71,840 crore. This upward trend continued from October 2024, when UPI processed 16.58 billion transactions worth Rs 23.50 lakh crore. PhonePe currently leads the UPI market with nearly 48% share by transaction volume, followed by Google Pay at 37% and Paytm at 7%. The market share is unlikely to change as NPCI has extended the compliance timeline for Third Party App Providers (TPAPs) exceeding the volume cap in UPI. The deadline has been extended by two years, until December 31, 2026. Meanwhile, NPCI has lifted the user onboarding limit for WhatsApp Pay, allowing the platform to extend UPI services to its entire user base across the country. Currently, UPI payments are accepted in seven countries, including Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, and France. According to media reports, NPCI is working to expand its services to Qatar, Thailand, and the broader Southeast Asian region.

Zomato halts 15-min food delivery service 'Quick' just four months after launch

EntrackrEntrackr · 2m ago
Zomato halts 15-min food delivery service 'Quick' just four months after launch
Medial

Food tech giant Zomato has reportedly removed its 15-minute food delivery tab, Quick, from its main app just four months after its launch, hinting at a possible strategic reset in its approach to ultra-fast meal deliveries. Moneycontrol was the first to report this development. The feature, also available as part of Zomato Everyday, was advertised on the landing page of the main app but is now unavailable in several cities such as Bengaluru, Gurugram, Hyderabad, Mumbai, and more. It is also possible that the company will not entirely phase out the feature and may release another version later. The service offered ready-to-eat dishes from select restaurants located within a two-kilometre radius. However, the option is no longer visible. Zomato Quick accounted for nearly 8% of the total order volume on the app around March. This was Zomato’s second attempt to crack the quick food delivery market under its main app. Its earlier effort – Zomato Instant, launched in 2022 – promised 10-minute deliveries in Bengaluru and Delhi-NCR but was shut down by January 2023. It was later replaced by Zomato Everyday, a home-style meal service with similar delivery timelines. While Zomato no longer offers a quick food delivery option on its main app, it has launched Bistro by Blinkit – a separate service offering fast-moving, ready-to-eat dishes made in Blinkit's network of dark stores. The app focuses on snacks, small meals, and bakery items that can be dispatched rapidly, blending Blinkit’s quick-commerce infrastructure with Zomato’s food delivery know-how. Zomato appears to be shifting its quick-food plans away from its core app and into a more focused play powered by Blinkit's dark store network. The company may be looking to separate rapid-fire snacking from full-fledged restaurant orders. The move comes at a time when the 15-minute food delivery space is flooded with new entrants, such as Zepto, which led the category with Zepto Café in 2022 and now fulfills over 100,000 daily orders through its standalone app – translating to a $100 million annualised GMV.

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