Google Pay Maintained its Position at NO.1 in UPI Payments; HDFC Bank Stands at Top Among 100 BFSI firms
Google Pay Maintained its Position at NO.1 in UPI Payments; HDFC Bank Stands at Top Among 100 BFSI firms

Google Pay Maintained its Position at NO.1 in UPI Payments; HDFC Bank Stands at Top Among 100 BFSI firms

HDFC may be one of the best banks in the private sector in terms of its service it offers to its users. And this time, too, in the list of BFSI (Banking, Financial services, and insurance), HDFC toped among its peers 100 banks. It is said that HDFC has been topped the list due to its best service provision in the field of customer service, monetary management, new and innovative offerings.

In the digital payment service provider like a digital wallet and UPI service provider, Google Pay has topped the list and got position 1. After Google Pay, the list has PhonePe, followed by Paytm and Amazon Pay. It is surprising to see that WhatsApp hasn’t been in the top 4 of the list in fact of the hype that was created before WhatsApp planned to enter into this segment.

Google Pay Maintained its Position at NO.1 in UPI Payments; HDFC Bank Stands at Top Among 100 BFSI firms
Google Pay Maintained its Position at NO.1 in UPI Payments; HDFC Bank Stands at Top Among 100 BFSI firms.

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BFSI Movers and Shakers Report 2020

After HDFC Bank, the largest public sector bank- the State Bank of India (SBI) ranked third. Because this list doesn’t just include the volume of the customers that bank but the quality of the service that the banks offer to its customers, ICICI Bank gained the second position in the list of all three banks that are said above, this means in future if you get in the dilemma of choosing a bank to get the best banking services then you may choose any of the above three banks or even look down to top 10 positions of the list.

HDFC Bank’s various financial products like no down payment for large appliances, no-cost EMI options, and the most loved scheme “summer treat.” These all said new and innovative financial products made HDFC settle at the top of the list among its other banks like ICICI, SBI, Yes Bank, PNB, HSBC Bank, BOB, Kotak Mahindra Bank, and IDBI. The report also states that ICICI Bank is the customer’s first choice and, indeed, the most preferred bank.

Google Pay topped the list in UPI Payments.

Google Pay has a UPI market share of around 35%, and this shows that people love to use Google Pay to pay their needs digitally. Digital payment had also seen a boost in the time of lockdown where almost all the bills and payments need to be done at home, and more and more people started using the digital mode of payment.

It was surprising to see that WhatsApp didn’t top the list in fact of its huge customer base, but it may be because WhatsApp didn’t roll its UPI service for everyone, and it is said that the Market share of WhatsApp UPI will increase in the coming years. Also, in the payment banks, Airtel performed best, followed by Paytm Payment banks and then the Jio Payment Banks.

Read More-Google Pay to Cease its Web App Operations After January 2021 and Plans to Charge Transfer Fee From Their US Users

Hakim
Feels forever since I started writing here, but it is an amazing feeling. I write about entertainment and the world here. You can reach out to me at [email protected]