Clinically Bharat

Corporates

Amazon Pay UPI surpasses 100 million customers, marking a major milestone | Company News

Email :30


Amazon Pay UPI today announced that its app has crossed a major milestone, having been adopted by over 100 million customers. Leading use cases include mobile recharges, utility bill payments, and e-commerce transactions.


Amazon Pay UPI has become a significant success, said the company, streamlining transactions both on the Amazon.in shopping app and across a wide range of external platforms.


Since its launch in 2019, Amazon Pay UPI has witnessed strong user preference across large states such as Maharashtra, Uttar Pradesh, Bihar, West Bengal, and Karnataka, especially in Tier-II and Tier-III cities, expanding access to digital payments, said the company. Moreover, the 18-24-year-old age bracket led the adoption of Amazon Pay UPI.


Vikas Bansal, CEO, Amazon Pay India, said, “UPI has revolutionised the way customers transact online, and we see vast, untapped potential within the UPI ecosystem, including opportunities in wallet-on-UPI and credit line on UPI. We are humbled and proud that 100 million customers have chosen Amazon Pay UPI as their preferred choice of online payment experience.”


Recently, Kearney India and Amazon Pay India undertook research titled ‘How Urban India Pays’ across 120 cities and 7,000 respondents. According to the report, UPI continued to reign supreme, with 53 per cent of consumers preferring it for online purchases and 25 per cent preferring it for their offline purchases.


Additionally, 36 per cent of customers in southern India prefer UPI over cash, closely followed by the west and north-central regions (35 per cent), the northeast (32 per cent), and the east (31 per cent), the report found. These findings highlight the growing trust in UPI across regions, signalling a robust, expanding digital payment ecosystem in India that promises greater convenience and financial inclusion.

First Published: Aug 26 2024 | 5:53 PM IST

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post