New Delhi
If you leave Google Pay, Phone Pay and Paytm in the country, then anyone in the country hardly knows what is the Super Money app? Also what is the ranking in its top 5 UPI app? Nobody will know this. Also, some people will probably not know about the Super Money app. However, the Super Money app has recently made it to the Top-5 UPI Payment app, which has brought it into the discussion. Now the question arises that what is the Super Money app? So let us know that the Super Money app is the payment app of Flipkart Group. It has joined the list of Top-5 UPI Payment a few days ago.
Cred missed back
The Super Money app has left Cred behind. Credde with Kunal Shah’s leadership has reached the sixth position. This claim has been made by the National Payments Corporation of India i.e. NPCI figures. According to the report, March has been a great month for UPI. This has been the first time when the payment figure crossed Rs 1 lakh crore. Let us know that on March 1, UPI has registered transactions worth Rs 1,01,628 crore.
Change in UPI’s position
Earlier in November, Sachin Bansal’s Fintech and Credit Platform Navi became the top 4 UPI app in the country, leaving the Cred behind. As of February, the payment of legendary UPI platform and UPI market leader PhonePe has been recorded in the month -after month. However, growth has been recorded in Navi and Super Money.
Whose market share
Credit Card Bill Payment App Crede remains the top-5 UPI payment app in the market by making 130 million transactions for almost a year. However, the truth is that the market share of Navi, Super Money and Cred is quite low. If you talk about the competition of PhonePe, Gagool Pay and Paytm, then the figure of Cred Super Money and NAVI transactions is quite low. All three contribute a lot to UPI UPI payment. In January, Navi’s market share was 1.5 percent. The market share of the same super money was 0.9 percent, while the number of credit comes with 0.7 percent.
NPCI capsing plan
Google’s UPI app is about 36 percent of the market share of Google Pay. PhonePe also covers around 35 to 37 percent market share, while Paytm’s current market share is about 6.7 percent. By the end of 2024, NPCI had planned a cap rule to stop the arbitrariness of any one company in the UPI market, which has not yet been implemented. Under this scheme, any one UPI app inhibits the share of more than 30 percent in the market. On PhonePe and Google, he has covered 84 percent of UPI transactions.
Crossed a figure of 90 thousand crore rupees
Since the end of last year, UPI has crossed Rs 90,000 crore in the daily transaction price several times, which reached close to the historic figure on 1 February, when it recorded a price of Rs 99,835 crore.