NewsAnchor
NewsAnchor
Grapevine

Navi overtakes Amazon Pay to emerge as fifth largest UPI player

  • Sachin Bansal's fintech Navi has overtaken Amazon Pay to become the fifth-largest UPI player in India, according to NPCI data.
  • Navi's UPI transaction volumes have surged 30 times in six months, jumping from 27th position in March to fifth in August.
  • The company saw 89 million transactions in August, up from 69 million in July, thanks to cashback offers.
  • Despite its rapid growth, Navi holds only 0.6 percent of the UPI market share, far behind leaders PhonePe, Google Pay, and Paytm.
  • NPCI's plan to cap market share at 30 percent per app is likely to be postponed due to implementation challenges.

Source: Moneycontrol

Post image
2mo ago2.9K views
TezBilla
TezBilla
Infosys2mo

Does it give cashback? What’s the reason people going towards Navi?

ConcurrentThinker
ConcurrentThinker
Stealth2mo

Didn't know they had UPI service for everyone. How did they become bigger than Amazon? I doubt it. Might be spammy transactions to increase volume

HELLO
HELLO
PhonePe2mo

Because amazon is so small

salt
salt
Gojek2mo

Wow

Discover more
Curated from across