Business

India is no longer Google Pay’s top generator of new users


The app currently holds about 43% of the Indian market share, followed by Walmart’s PhonePe.

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India was overtaken by the U.S. to become Google Pay’s largest generator of new users, according to app intelligence firm Apptopia.

The Google-owned digital payment platform added nearly three lakh new users in the U.S. in a single day last week, compared to about two lakh new users in India on the same day.

Google Pay was launched seven years ago as a basic payment app with primary users in Russia, followed by the U.S. Google phased out the old app, revamped it with new features in 2017, with Indian users downloading it more than 30 crore times, compared to 57 lakh times in the U.S.

The app is offering several added features at present including ‘tap to pay’, personal finance aggregation, and a $21 referral bonus to encourage app installs in the U.S. The app also surpassed other American payment wallets like Venmo and Cash App in the U.S. this month, according to Apptopia.

Google, Walmart’s PhonePe hit by India’s move to limit some digital payments players

Google Pay was the top ranked Finance app in Apple’s App Store and in Google Play in the U.S. It also secured the overall top position on both the stores this month.

Google Pay stood first in India in terms of number of transactions in November, garnering nearly 96 crore transactions, according to the National Payments Corporation of India (NPCI). The app currently holds about 43% of the Indian market share, followed by Walmart’s PhonePe.

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