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Statistics Assignment

SME Eco Hon

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Ishika
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23 views2 pages

Statistics Assignment

SME Eco Hon

Uploaded by

Ishika
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Statistics Assignment

Name: Ishika Jaiswal


Roll No: 23/0520

I choose to analyze uses of different UPI Apps for making payments in the year 2023 in
India. As currently India has been leading in the race of digital payments around the world so,
this seems to be a significant static, which highlights the most widely used app for payments.
I selected three widely apps for that: Google Pay, Phone Pay and Paytm. The statistic aims to
analyze which app amongst the three is used comparatively more.

Volume of UPI transactions by different apps in 2023 in (Mn)


Apps Google Pay Phone Pay Paytm
Jan'23 2,782.42 3,802.67 1,076.75
Feb'23 2,639.55 3,519.12 1,027.97
Mar'23 3,054.44 4,076.32 1,169.63
April'23 3,109.24 4,216.99 1,184.38
May'23 3,274.69 4,499.20 1,229.38
June'23 3,266.80 4,461.40 1,197.30
July'23 3494.64 4743.66 1278.96
Aug'23 3767.68 4987.33 1363.05
Sept'23 3,780.89 4,972.81 1,333.38
Oct'23 4,139.92 5,337.96 1,417.81
Nov'23 4099.08 5281.68 1360.45
Dec'23 4375.29 5642.66 1442.58

Mean 3,482.05 4,628.48 1,256.80

y = 176.43x + 3481.7
Chart Title y = 151.47x + 2497.5
y = 34.9x + 1030
Google Pay Phone Pay Paytm
Linear (Google Pay) Linear (Google Pay) Linear (Phone Pay)
Linear (Phone Pay) Linear (Paytm) Linear (Paytm)
6,000.00

5,000.00

4,000.00

3,000.00

2,000.00

1,000.00

0.00
1 2 3 4 5 6 7 8 9 10 11 12
It is clearly visible from the data set that Phone Pay is the most used app among the three,
then comes Google pay and lastly Paytm.
Comparing the mean volume of transactions again Phone Pay leads the race with Google Pay
and Paytm in line respectively.
Comparing their growth along the year, it is visible from the graph that use Phone pay
continues to grow at higher rate than the rest two. The slope of all the three apps shows the
growth in the sequence: Phone Pay > Google pay > Paytm.
Business Strategy

Brand Building
Brand is basically what instantly comes to your mind when you hear the company’s name. As
of date, Paytm has forayed in multitude of businesses, from payments to travel, insurance and
gaming. As a result, it does not have a clear image in people’s minds as to what it stands for,
or what is it best at. However, when someone hears Phone Pe, smooth and hassle-free
transaction experience instantly comes to mind, that is what it stands for. With Google Pay,
same, hassle-free transacting comes to mind, however it lags a bit behind Phone Pe in terms
of hassle-free transactions.

Business Expansion
After conquering UPI payments market, Phone Pe is moving ahead with vertical expansions.
It is enabling users to make insurance purchases, mutual fund investments and recharges/bill
payments from its platform. Google Pay has also expanded into recharges/bill payments
services. However, all these services are natural extensions of a payments company, unlike
the services provided by Paytm, some of which are in completely different sectors.
Apart from this, Phone Pe is doing something really smart. It is actively tapping into the
largest market of offline payments, Kirana stores. It is empowering Kirana store owners by
providing them with payment acceptance infrastructure, larger reach, by listing them on its
platform, and CRM tools which help them analyse data and increase customer footfall. Till
date, more than 25 million Kirana store owners have been onboarded on Phone Pe for
Business platform, which enables these owners to grow their business using technology.

Conclusion
As is clear from the above discussion, Phone Pe stands out in terms of its technological
prowess, it is faster and more accurate than its competitors. It has an edge in terms of the
overall user experience, the user journey is more delightful, smooth and hassle and hick-up
free than that of Paytm and Google Pay.

Source of data: https://www.npci.org.in/what-we-do/upi/upi-ecosystem-statistics

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