Google Pay most installed fintech application worldwide in Jan; PhonePe leads in India

Google Pay has by and by become the most downloaded fintech application around the world in a month, recording 10.6 million downloads in January in which India contributed 77.3% or 8.2 million introduces, information sourced from Sensor Tower shows.

In December, Google Pay had timed 10.3 million downloads all around the world.

In the worldwide top five most-downloaded fintech applications, India’s PhonePe and Paytm got the third and fifth spot separately. PhonePe recorded 9.2 million downloads in January though Paytm earned 4.7 million downloads.

Local application PhonePe was the most downloaded fintech application in India with 9.1 million downloads. Paytm, Dhani and Yono SBI recorded 4.6 million, 3.5 million and 3.3 million downloads separately. Other than India, Google has a presence in the US, Russia, Ukraine, Brazil, Germany and Italy, among others.

It’s important that PhonePe has been keeping up its lead over Google Pay as far as UPI exchanges volume for as far back as two months. As indicated by information delivered by NPCI, PhonePe had recorded 968.72 million exchanges worth Rs 1,91,973.77 crore in January though Google Pay enlisted 853.53 million exchanges adding up to Rs 1,77,791.47 crore during the month.

UPI saw 2.3 billion exchanges worth Rs 4,31,181.89 crore in January in which a lot of exchanges was 42% and Google Pay contributed 37%.