PhonePe cements position as leading UPI app, WhatsApp falls behind

UPI, India's flagship payments platform, recorded 2.29 billion transactions worth Rs 4.25 trillion in February.

PhonePe processed the most transactions in the last three months to continue as India’s top Unified Payments Interface (UPI) app and WhatsApp, the messaging platform used by millions in India, failed to live up to expectations that it will grow rapidly, data showed. 

In February, WhatsApp processed 0.55 million transactions amounting to Rs 32.41 crore. Transactions have gone down since December when it processed 0.81 million transactions amounting to Rs 29.72 crore. Since its limited launch in November last year, WhatsApp, which is owned by Facebook, has processed 2.23 million transactions of 9.04 billion transactions on the UPI platform. Reports