Trending

Stories

PhonePe Pulse Now Has Interesting Trends on Digital Payments in India

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

India’s leading digital payments platform, PhonePe launched PhonePe Pulse on Monday.

This is India’s first interactive website with data, insights, and trends on digital payments. This website analyses the digital transaction habits of over 300 million Indians to show how India is paying, down to the district level.

Also Read

Pulse is India’s go-to destination for accurate and comprehensive data on digital payment trends. With over 45 percent market share, PhonePe’s data is representative of the country’s digital payment habits. It is relevant to a wide range of stakeholders, including the government, policymakers, media, industry analysts, merchant partners, universities, and students – to get accurate and granular data. This will enable a better understanding of digital payments and key insights into new growth opportunities.

PhonePe Pulse has also unveiled some interesting trends of digital payments in India.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Digital Payments is a pan India habit. Over 300 million Indians from 19,000 pin codes now use digital payments. Four out of every five PhonePe monthly active users are from Tier 2 and 3 cities, and two out of every three users are from Tier-3 towns.

Most Indians are exploring sending money online. Over 63 percent of first-time transactions on the PhonePe app are to transfer money, confirming that this category acts as the initial hook for customers to download a UPI app. PhonePe registered 182 percent growth in transactions for this category and 72 percent growth in customers between Q2 2020 and Q2 2021.

Big things are happening in our small towns. The Tier 2 and 3 towns in India are making big leaps into digital investments and insurance categories. PhonePe’s insurance offering is largely purchased (more than 2/3rds) from customers in Tier 3 cities and beyond. Gold was purchased from over 99 percent pin codes and mutual fund investments from over 95 percent pin codes in the country.

PhonePe goes on a road trip
A PhonePe user visited and paid at a whopping 75 petrol pumps in 13 states last year. This truly represents the scale of digital payments in India. PhonePe is live at several tens of thousands of fuel merchants across the country, with phenomenal year-on-year growth.

Keys, mask, sanitizer, and PhonePe.
The pandemic has made many store merchants and customers choose digital payments over cash, and this has become our checklist before leaving the house. In fact, the top five cities leading in-store transactions will surprise you — Bengaluru, Nashik, Aurangabad, Visakhapatnam, and the Rangareddy district.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
ChatGPT Reaches 100 Million Users in Two Months Microsoft’s Teams Get OpenAI-Based Features WhatsApp New Feature that Allows Users to Create Calling Shortcuts Instagram Working On Twitter-like Paid Verification Feature OnePlus Ace 2 Specs Exposed Online Realme GT Neo 5 Full Specs Revealed  Samsung Galaxy S23 Ultra: The New Android King Twitter To End Free API February 9 MLS Season Pass Now Available On Apple TV App Tesla To Increase Giga Shanghai EV Production to 20,000 Weekly 
OpenAI Releases Tool To Detect AI-generated Text Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors