Google Pay Goes Past PhonePe With 67Mn Monthly Users, 918Mn UPI Transactions

Sep. 20, 2019

He further said that the number of users grew three times in the past 12 months alone.“In the last 12 months alone, Google Pay has grown 3X to reach to 67 million monthly active users, driving transactions worth over $110 billion on an annualized basis, with hundreds of thousands of offline and online merchants”, he said.“The biggest story in India’s booming Internet economy has been the rise of digital payments. With BHIM UPI crossing 900 million payments last month, India is setting the global standard on how to digitize payments”, he added.

However, with Google Pay usage largely restricted to end-consumers thus far, Google launched a new app calledGoogle Pay for Businessthat the company says will expand the adoption of digital payments by merchants. According to Kenghe, the app will offer“a free and easy way for small and medium-sized merchants to enable digital payments without the hassle of time-consuming on-boarding and verification process”.

You can read more details about Google Pay for Business by going throughour detailed articleon the subject.

With inputs from IANS

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