PhonePe says Paytm’s claims on UPI are ‘misleading’ - News Summed Up

PhonePe says Paytm’s claims on UPI are ‘misleading’


In a blog post on Thursday, PhonePe termed Paytm’s claim of being the biggest payments network on UPI as “unidimensional” and “misleading”, and claimed that broad-based adoption of UPI has not happened on Paytm yet. “The average PhonePe customer does about five transactions per month, while the comparable figure for Paytm is 525. PhonePe also pointed out that Paytm’s average transaction value currently lags PhonePe’s by a long way. Paytm’s average transaction value is less than Rs40. PhonePe added that Paytm’s current overall transaction value lags UPI’s overall transaction value.


Source: Mint March 08, 2018 17:22 UTC



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