Person-to-merchant (P2M) transactions are less as compared to person-to-person (P2P) transactions on Unified Payments Interface (UPI). A report by NPCI has revealed that the total 452 crore transactions worth Rs 8.26 were reported to be done in February, out of which 263 crore transactions amounting to Rs 6.63 lakh crore were person-to-person. Approximately 189 crore person-to-merchant transactions worth Rs 1.63 lakh crore were done in the same month.
59 percent transactions of person-to-person and 78 percent transactions of person-to-merchant were up to Rs 500 value. 15 percent person-to-merchant transactions and 20 percent person-to-merchant transactions were between Rs 501 and Rs 2,000.
In value terms, 70 percent of person-to-merchant and 87 percent of person-to-person transactions are amounting Rs 2,000. Value-wise, the transactions up to Rs 500 are only a 3 percent share of person-to-person exchanges and 13 percent for person-to-merchant. In monthly transactions volumes, PhonePe leads with a 47 percent. Google Pay stands in the second number with a share of 34 percent with 152 crore transactions. The share of Paytm Payments Bank was 16 percent.
