Indian Banks Are Shutting Down ATM Machines Because of UPI and Digital Payments
4000 ATM Machines Closed in Last 1 Year
Cash Circulation in India is Still At All Time Record High of Over โน34.70 Lakh Crore
India Has Only 15 ATMs For 1 Lakh People
Anonymous 1
Hey I am on Medialย โขย 4m
Makes sense! UPI is so much more convenient than cash, especially with apps like PhonePe, Google Pay, and Paytm. ATMs are becoming obsolete, so it's logical for banks to reduce them
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M S Shaikh
Hey I am on Medialย โขย 11m
What will be the future of Paytm? Paytm is First Mover But now phonepe has 47.2% share of UPI transactions
UPI Market Share,December 2024
1- PhonePe - 47.7%
2- Google Pay - 36.7%
3- Paytm - 6.87%
4-Others - 8.73%
Phonepe alone have almost 50% market share.
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Vishu Bheda
Transforming vision ...ย โขย 7m
๐จ Market Share of UPI Apps (July 2024)
โข PhonePe - 48.3%
โข Google Pay - 37%
โข Paytm - 7.82%
โข Others - 6.88%
CRED is Now The 4th Largest UPI Player.
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AprameyaAIย โขย 7m
๐จ UPI market share in July, 2024. (NPCI)
PhonePe - 48.3%
Google Pay - 37%
Paytm - 7.8%
Others - 6.9%
What do you use?
Why Banks are preferring UPI for ATM cash withdrawal instead of traditional Cards
No Physical Card Production: Issuing debit cards costs banks money (around Rs 150-200 per card for production, shipping, and activation). UPI eliminates this by workin
UPI based payment gateway for developers.
I want to enable UPI payments on my website. Which solution can I use? Paytm, Razorpay, Phonepe required documents proving you are a registered business. But I'm a dev, don't have any registered business. Loo
Phonepe was acquired by Flipkart in 2016.
Later
In Dec 2022, PhonePe separated from Flipkart, but both companies are still owned by Walmart.
So, why need another UPI app?
Paytm shareholders are ignoring this? ๐๐
The fintech giant was the only UPI app to be making money on UPI. And now thatโs no more possible.
Here's all you should know!
..
The thing is, NPCI (via Govt grants) compensates the banks to up keep the
Indian Banks Are Shutting Down ATM Machines Because of UPI and Digital Payments
4000 ATM Machines Closed in Last 1 Year
Cash Circulation in India is Still At All Time Record High of Over โน34.70 Lakh Crore
India Has Only 15 ATMs For 1 Lakh People
5 replies4 likes
Vinayak Shivanagutti
๐7M+ Post Impressio...ย โขย 11m
Case Study: PhonePe โ India's UPI Leader
Founded in 2015, PhonePe dominates India's digital payments landscape.
Stats:
Users: 350M+ registered
Market Share: 40%+ of UPI transactions
Business Model: Transactions, financial services, advertising.
R