New Delhi, Jun.22: According to mobile app intelligence platform of Sensor Tower, Google Pay Tez has been the most downloaded finance app with 90 lakh downloads in world in Month of May. It is followed by PhonePe app with 47 lakh downloads. PayPal, Cash App and UnionPay stand third, fourth and fifth respectively.
BHIM Unified Payments Interface(UPI) of National Payments Corporation of India(NPCI) is used by Google Pay Tez in India. There has been growth of 27 percent over the year in downloads of PhonePe.
This development shows that Indian citizens are adopting digital payments methods very fast. The Financial services company Credit Suisse estimates five fold rise of digital payments to $1 trillion by the year 2023 in India. Amazon has also launched Amazon Pay digital payment arm and infused capital of Rs. 450 crore and announced launch of person to person payments for android users today.