Google Pay, India's PhonePe - most frequently downloaded apps in February 2020

Friday 17 April 2020 05:57 CET | News

Google Pay has been reportedly the most downloaded Fintech app (globally) during February 2020 with 15.6 million downloads, according to Crowdfund Insider.

Compared with February 2019, this is notably more than a 2X growth in total downloads. The widely used payments app got 83.6% of its downloads from consumers based in India. Around 5.7% of Google Play downloads were from Russia.

This growth in number of downloads was closely followed by Indian digital payments company PhonePe’s app which was downloaded 6 million times. Similarly, when compared to February 2019, PhonePe app’s total downloads increased by 39.5%, with nearly all (99.3%) of the digital payment app’s downloads were from India.

Alipay, Cash App, and PayPal were the other three large digital payments companies that rounded up the top five list of most frequently downloaded fintech apps globally for the month of February 2020.

The growth and adoption of both fintech apps has been supporting India’s growing digital payments industry and ecosystem, which is largely based on the Unified Payments Interface (UPI). Paytm-backed PayPay and Google Pay for Business were ranked among the top 10 most downloaded payments apps.

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Keywords: Google Pay, India, Russia, Unified Payments Interface, UPI, fintech, apps, Paytm, Alipay, cash app, PayPal, PhonePe
Categories: Payments & Commerce
Countries: India
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