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PhonePe Net Wort: UPI apps like Google Pay or PhonePe have become part of our common life. We pay small moths from them daily for free. No fee, no commission. Nevertheless, these companies earned more than ₹ 5,065 crore last year. It is a matter of thinking here that when they neither sell any product, nor charge any fee on transactions, where does so much money come from? Let’s understand this aspect today.

How is crores earning?

You must have heard the sound of “₹ 100 from PhonePe” at the shops. These voice speakers are actually a tremendous means of earning for companies. Digital payment apps like PhonePe, Paytm, these speakers rent shopkeepers, and in return take around ₹ 100 every month. In today’s era, these speakers are seen at the counter of almost every shopkeeper from the tea shop to the ration shop. In such a situation, it can be guessed only by this one service.

For example, suppose more than 5 million shops across the country are using this voice speaker service. If you understand mathematically, ₹ 100 × 50 lakh = ₹ 50 crore every month, ie ₹ 600 crore annual earning, only with this facility! These speakers not only help to give information about immediate payment, but also increase the presence and confidence of the brand among customers.

Scratch card earns a lot of money

Now let’s talk about what we all like, scratch card. Sometimes a cashback of ₹ 10, sometimes a discount coupon. But these rewards are not actually for users, but a fierce advertising tool for brands. Brands pay money to these companies so that their name, offer and promotion reach millions of users through these scratch cards. That is, the user gets rewards, the company gets connectivity and the brand gets promotion and Google Pay, PhonePe gets huge advertising revenue from it. It becomes the second major means of earning of these apps.

These apps earn a lot from loan

Now we come on the third and most interesting aspect of saas and lending services. These companies not just allowed UPI to remain a payment tool, but made it a complete solution for small businesses. Now these apps also provide services like GST help, invoices and small loans. That is, now they are not only paying apps, but have become a small office for businesses. The biggest thing is that they do not have to spend money to add new customers.

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Those who are using UPI also start using their other products. Apart from this, now these apps are also offering services ranging from mobile recharge to electricity bill payment. In lieu of these facilities, these companies charge platform fees, making them additional income.

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