PhonePe processes 45% of all UPI transactions in India, covering 720 out of 726 districts in the country. There are about 328 million registered PhonePe users. The apps’ data showed four of the five leading smartphone brands which are used to transact digitally by the users in India are Chinese origin phones.
Xiaomi and VIVO are holding nearly 45% share of the total customer base in the third quarter of 2021 with 8.07 crore and 6.53 crore customers respectively using the PhonePe app. The third-highest share was of South Korean brand Samsung with 6.13 crore users.
Oppo and Realme have 4.21 crore and 2.42 crore customers using PhonePe respectively, making them the fourth and fifth largest device brands.
This comes when the Indian government has reportedly issued notices to Chinese smartphone brands seeking details on the data and components used in the phones seen as an attempt to crack down on Chinese device manufacturers.
The Total Payments Value (TPV) of transactions processed jumped 23.3% quarter-on-quarter to Rs 9.21 lakh crore while the number of transactions ascended to 526.5 crore from 33.6% transactions, as per the Pulse report.
The report also confirmed that Xiaomi continued to be essentially the most popular with the very best variety of gadgets in play, with (about) 25% of the consumer base, with the following largest being VIVO with 20% of the consumer base but in this quarter, Realme, OnePlus and VIVO develop sooner than Xiaomi, clocking in development charges of 17.8%, 17.0% and 11.2% relative to the 6.4% clocked by Xiaomi.
“The speedy development we’re seeing quarter on quarter is a robust indicator that digital funds are really penetrating throughout the size and breadth of the nation,” mentioned Karthik Raghupathy, head of technique and investor relations, PhonePe.
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