PhonePe has released its latest report on digital finance trends in India, dubbed phonepe pulse. The report reveals several key data such as the total number of transactions during the quarter, the total number of users registered on the platform so far, the total value of all payments made on it during the quarter, average cost per transaction and so on. . Feather. The report breaks down the data during this period into finer sections, including state-wise transaction data, user device demographics and more. The PhonePe Pulse report is now available for all to download, and also details comparative figures over previous quarters to track monthly or yearly growth.
According to the report, PhonePe did over 394 crore transactions on its platform, with a total payment value of over Rs 7.47 lakh crore. Of this figure, 174 crore were P2P transactions, or personal transfers of money, while around 150 crore merchant payments were made. Out of the total, 68.5 crore transactions took place in recharge and bill payments. This marks an increase of 1.7 times over the previous year, when PhonePe did around 145 crore transactions in Q2 2020.
In terms of users, PhonePe claims to have over 305 crore registered users on the platform as of now. Among smartphone users, almost a quarter use Xiaomi phones, followed by Samsung, Vivo, Oppo, Realme and Apple users. In comparison, the platform had 219 million users a year ago, indicating a growth of nearly 40 percent in its user base in the past one year. These numbers also show that the number of transactions done by each user on PhonePe has also nearly doubled – from six per quarter in Q2 of 2020 to 13 in Q2 of 2021.
The report further said that the top five cities for offline merchant transactions, which saw a 3.13x growth on the platform in the past one year, were Bangalore, Nashik, Aurangabad, Visakhapatnam and Rangareddy, trailing several metropolitan destinations. “Transactions in May 2021 showed a 4-fold increase in comparison to 2020 for this category. Online food delivery and online shopping are the two biggest use cases for online payments and they both showed a similar usage pattern through the pandemic. Prepaid mobile recharge transactions increased by 25 percent in April-May 2020 and 32 percent in April-May 2021 as compared to March 2020 and 2021. Timely reminder notifications impacting customer behavior led to an increase of over 90 per cent in bill payment transactions from May 2020 to 2021,” the report said.
For more detailed data, the PhonePe Pulse report for Q2 2021 can be found Here.
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