Podcast
Questions and Answers
What specific service is Phi Commerce approved to offer by NPCI?
What specific service is Phi Commerce approved to offer by NPCI?
- Digital Payment Gateway
- UPI Switch service (correct)
- High-Volume Transaction Processing
- Enterprise Resource Planning
In which city is Phi Commerce based?
In which city is Phi Commerce based?
- Mumbai, Maharashtra
- New Delhi, Delhi
- Pune, Maharashtra (correct)
- Bengaluru, Karnataka
According to the provided data, which app became the 4th largest UPI app in India?
According to the provided data, which app became the 4th largest UPI app in India?
- Navi (correct)
- PhonePe
- Google Pay
- Cred
Which company's app did Navi overtake to achieve the 4th position among UPI apps?
Which company's app did Navi overtake to achieve the 4th position among UPI apps?
What growth percentage did Navi witness in transactions leading up to October 2024?
What growth percentage did Navi witness in transactions leading up to October 2024?
How many transactions did Cred record in the same month that Navi recorded 157.51 million transactions?
How many transactions did Cred record in the same month that Navi recorded 157.51 million transactions?
In which month did Navi record 157.51 million transactions?
In which month did Navi record 157.51 million transactions?
What is the role of the National Payments Corporation of India (NPCI)?
What is the role of the National Payments Corporation of India (NPCI)?
What type of customers is Phi Commerce targeting with its UPI Switch service?
What type of customers is Phi Commerce targeting with its UPI Switch service?
Who is the owner of Navi app?
Who is the owner of Navi app?
Flashcards
What is UPI Switch?
What is UPI Switch?
A service that supports high transaction volumes for enterprise customers using the Unified Payment Interface.
Who is NPCI?
Who is NPCI?
The organization that approved Phi Commerce to offer UPI Switch services.
What is Navi's UPI transaction growth?
What is Navi's UPI transaction growth?
Navi witnessed a 31 percent growth by registering 157.51 million transactions in October 2024.
Navi's UPI ranking
Navi's UPI ranking
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Study Notes
Phi Commerce's UPI Switch Approval
- Pune-based Phi Commerce, a digital payments fintech, secured approval from the National Payments Corporation of India (NPCI).
- The approval allows it to offer UPI Switch service to enterprise customers.
- This service aims to support high transaction volumes for these customers.
Navi Becomes 4th Largest UPI App
- Sachin Bansal's Navi app has surpassed Kunal Shah's Cred app in India.
- Navi is now the 4th largest Unified Payment Interface (UPI) app.
- NPCI data indicates Navi experienced a 31% growth.
- Navi registered 157.51 million transactions in October 2024.
- Cred, based in Bengaluru, recorded 152.28 million transactions during the same month.
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