In the month of November, Flipkart-backed Super.Money has become the 7thth-Biggest player and 6th-The largest third-party application provider (TPAP) on the country’s real-time payments system, Unified Payments Interface (UPI).
Flipkart-backed Super.Money becomes seventh largest company on UPI with significant growth
The company was 12 in the month of Octoberth The biggest player on UPI.
According to data provided by the National Payments Corporation of India (NPCI), the company processed 78.49 million transactions worth Rs 3,130 crore in the month of November, up 58% from the original 49.68 million transactions, with a total value of Rs. 2,167 crores.
The company’s UPI operation was launched in July 2024.
Notably, the total number of transactions processed in the country recorded a decline Cumulatively over the past month.
Transaction volume declined 7 percent to Rs 15.48 billion and value declined 8 percent to Rs 21.55 trillion in November compared to the previous month. In October, due to festive sales, they touched an all-time high.
The decline in transactions following the festive atmosphere in October was visible among the top three UPI players, which account for about 92 per cent of UPI volumes.
PhonePe leads UPI transactions in November, while Navi and Cred maintain strong position
There were 7.40 billion transactions on PhonePe in the month of November, followed by 5.73 billion transactions on Google Pay and 1.07 billion transactions on Paytm. PhonePe and Google Pay processed an average of 483 million fewer transactions in November compared to the previous month.
4th The biggest player Navi retained his position. It is noteworthy that the company started UPI operations in August last year. Navi processed 152.95 million transactions. Cred, which comes on the list after Navi, saw a volume of 138.24 million.
