BHIM app market share falls to 6% as Tez, PhonePe and Paytm make gains

Govt-promoted payments app's market share dropped from 40% in August 2017

While transactions using the United Payment Interface (UPI) crossed 145-million mark in December, the market share of the government’s Bharat Interface for Money (BHIM) app fell to 6 per cent in the face of growing competition from private players like Tez, PhonePe and Paytm as well as banks.
 

UPI is a payment system developed by the National Payments Corporation of India (NPCI) that allows money transfer between two bank accounts by using a smartphone. It also enables a customer to pay directly from a bank account to different merchants.

A spokesperson for Google India said consumers were embracing UPI apps depending