[Technology] Chinese smartphones lead India’s digital payments growth: Report 2021 has become a prosperous year as Indian start-ups have grown more than ever after the horrors of 2020. This has led to the revival and growth of the startup industry, led by sectors such as edtech and fintech. As of the end of the year, the digital payments sector continues to grow, and the data presented in the second edition of PhonePe’s Third Quarter 2021 Pulse report does just that. PhonePe is a giant in India’s digital payments sector. It handles 45% of all UPI transactions in India and covers 720 of the country’s 726 districts. Growth in the digital payments sector in the third quarter of this year is being driven by Chinese companies, according to a report based on PhonePe’s Rs 3.2 billion user base and its digital trading habits. In fact, it’s four of the top five. The smartphone brands used for digital transactions come from China. Xiaomi leads with 8.07 Chlore customers, followed by Vivo with 6.53 Chlore customers. South Korea’s Samsung lags behind with 613 million rupees, while Oppo and Realme have completed the top five with 421 million rupees and 242 million rupees, respectively. Together, Xiaomi and Vivo accounted for almost 45% of total customer base in the third quarter – Xiaomi 25% and Vivo 20%. “But in an interesting trend this quarter, Realme, OnePlus and Vivo grew faster than Xiaomi’s clocking, with growth rates of 17.8%, 17.0% and 11.2% compared to 6.4% for Xiaomi,” the report said. Stated. He added that offline merchant payments increased faster than online merchant payments, recording a QoQ growth rate of 65%. Geographically, Chandigarh has seen a 50% or more increase in quarterly trading volume. Karnataka and Maharashtra show the largest quarterly trading volume growth. Both have recorded an increase of 22 chlores. The total payments (TPV) of transactions processed increased by 23.3% quarter-on-quarter to 921,674 chlores, and the number of transactions increased by 33.6% from 394 chlores to 526.5 chlores. https://thetechportal.com/2021/10/19/chinese-smartphones-spearhead-indias-digital-payments-growth-report/ Chinese smartphones lead India’s digital payments growth: Report