 | « Back to article | Print this article |
Amazon Pay UPI has crossed 100 million customers, with the online platform used mainly for e-commerce transactions, utility bill payments and mobile recharges, the company announced on Monday.
The app has become a significant success, streamlining transactions both on Amazon.in shopping app and across a wide range of external platforms.
"UPI has revolutionised the way customers transact online and we see a 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,” Vikas Bansal, CEO, Amazon Pay India, said.
Since its launch in 2019, Amazon Pay UPI has witnessed strong user preference from across big states such as Maharashtra, UP, Bihar, West Bengal and Karnataka, with growing adoption in the tier II and III cities, it said.
Moreover, the app is being preferred by youth in the age bracket of 18 to 24 years.
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 users preferring it for online purchases and 25 per cent preferring it for their offline purchases.
Additionally, 36 per cent customers in Southern India prefer UPI over cash, closely followed by the west and north-central (35 per cent), northeast (32 per cent) and east (31 per cent), the report stated.
The findings of the report highlight the growing trust in UPI across regions, signaling a robust, expanding digital payment ecosystem in India that promises greater convenience and financial inclusion.
