PhonePe Continues to Lead UPI-Based Payments Market With Over 970mn Transactions in February 2021

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PhonePe continued to lead the UPI-based digital payments market in India in February 2021, with over 970 million transactions, the company announced earlier today. The digital payments firm adds that the platform clocked over 1.07 billion total transactions across UPI, cards and wallets on its platform  for the same period. The National Payments Corporation of India (NPCI) website shows that roughly 2,292 million UPI transactions worth Rs 4,25,062 crores took place in India last month, though the full report is yet to be shared. PhonePe’s domestic rival Paytm has also announced that the platform clocked more than 1.2 billion transactions in February 2021, posting a 15 percent month-on-month growth. In January 2021, Paytm Payments Bank took the third spot with 281.18 million UPI-based transactions worth Rs 33,909.50 crores.

PhonePe adds that its continuing success in the digital payments space is mainly attributed to the expansion across Tier 2 and Tier 3 cities, where the company seemingly digitised over 17.5 million Kirana stores. The e-payments company had previously announced its plans to digitise 25 million Kiranas by the end of 2021. Speaking more over the development, Sameer Nigam, Founder and chief officer at PhonePe said that the company continues to dominate industry metrics in terms of the active user base, active merchant-base, total transactions and TPV (total payment volume). “We are delighted to retain our pole position as the top digital payments platform in the country. I am very proud to report that PhonePe is leading across all core. We will continue to transform lives positively while building simple, scalable and innovative products for every Indian,” Nigam in the statement added.

PhonePe’s growth can be also attributed to the slew of updates the app has been adding since last year. Recently, the company partnered with Axis Bank on UPI multi-bank model, giving users an option to create and use multiple UPI IDs with an Axis Bank ID. Apart from this, PhonePe will start acquiring merchants with Axis Bank in addition to its partnership with YES Bank. It recently crossed the 275-million registered user milestone. It had over 100 million monthly active users generating over 1 billion digital payment transactions in January alone. It is targeting to surpass 500-million registered users by December 2022.


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Airtel Looks To Leverage 320 Million Users For The New Made For India Airtel Ads Platform

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Bharti Airtel has announced a Made For India advertising platform called Airtel Ads that would allow brands to target customers with relevant advertisements and for customers to get hyper-targeted offers and more. This official release comes after the beta testing of the Airtel Ads platform, which saw more than 100 brands join the platform, with more than 8 billion impressions per months and more than Rs 100 crore in annualized revenue. Airtel will leverage platforms such as the Airtel direct to home (DTH) TV service, Airtel Thanks app, Airtel Xstream and Wynk Music, as well as the Airtel retail points. Airtel insists that the homegrown Airtel Ads is built for India and will be monitoring ad experiences to notice when a customer drops off, indicating that the ad delivery mechanism needs rework. At this time, Airtel has 320 million users in India, across the services they offer, including prepaid and postpaid mobile, Xstream broadband and DTH TV.

Airtel insists that the user data never leaves their ecosystem when the ads are delivered to users. Secondly, Airtel says that when the consumer engages with an advertisement on the Airtel Ads platform, all the user data remains private and secure and is not shared with any intermediaries. Also, Bharti Airtel says they will only work with brands that don’t offer family safe and child friendly content for advertising, across their platforms. What will be the focus ad delivery mediums for Airtel Ads? Airtel Ads will leverage their own apps and services including the Wynk music streaming app, the Airtel Thanks app and Airtel Xstream video streaming apps, as well as the Airtel DTH platform and the retail points at a market near you. Airtel believes that the real-world test they undertook last year with HDFC Bank at these stores translated into as many as 35,000 units per day sales for a unique life insurance pack priced at Re1 per day that were bundled with the Airtel prepaid recharge options.

Can Airtel Ads be disabled? Yes, there is an opt out feature across platforms allowing you to opt out of personalized ad suggestions. At this time, Airtel says they are working on a centralized toggle system to turn these ads on or off, but even now, the option is available across platforms.

The Indian Advertising Industry was worth $10 billion in the year 2020 and will be worth as much as $19 billion by the year 2025, according to the Digital Advertising In India 2020 report by the Dentsu Aegis Network. Of this, the share of the digital advertising specifically was $2 billion in 2020 while that is expected to grow to $8 billion by the year 2025. For Airtel Ads, there are more than 100 brands that are already using the platform including Pepsi, Zomato, Myntra, YouTube, SBI Card, CRED, Vahan, Lenskart.com, Unilever and Tata AIG.

Airtel has the highest mobile average revenue per user (ARPU) of Rs 166 per month and says that the average monthly data usage per customer is as high as 16.8GB, across the network. There are more than 17 million homes that are connected with the Airtel DTH service. The Airtel mobile network handles more than 3 billion calls every day while more than 55% of Airtel users make online transactions, with these totaling up to as much as Rs 5 billion worth of daily transactions including on the Airtel Payments Bank and Mitra platforms.



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