How Does Google Pay, PhonePe, Paytm & UPI Apps Make Money?

Example Of A Long Term Vision!!

Well readers today here we are focusing on a topic which some of you might have wondered about. How are UPI payment methods or apps are making money? Here’s a brief answer to this question. Sit back and let’s start this quest.

google pay business model

Ever wondered, what does Google/PhonePe/Paytm get when we send money to another account. If you’re sending 100 Rs then receiver gets exact same amount. This means these apps are taking 0% commission on the transaction. If these app continue to work like they’re working currently, all of them will be out of business very soon. So let’s understand their business model to know the answer of the question you’re wondering about…

How Does Google Pay/ PhonePe/ Paytm Make Money?

how does google pay make money?

Big Games

Money transactions are a big game entrepreneur’s job and so are GooglePay and PhonePe. Currently lets first make some things clear that these players are not making any significant amount of money by providing this service to us. This is a huge investment game where customer on-boardingĀ has just started. The players are building an audience first then to make money later by charging for their services.

First Domination, Then Monetization.


Google Pay and Phone Pe are currently earning some bits and pieces of their revenue by promoting some essentials such as Insurances, Food vouchers, Groceries.

Also See : Refer Google Pay & Earn Upto 9000 Rs

The huge part of the revenue currently being generated is from the Telecom companies. Earlier in this decade there used to be shops for recharging the prepaid mobiles. The recharge shops in turn received some amount to do so. The same commission is now being earned by these UPI payment gateways.


Gpay and PhonePe are in the game to stay for a long run. They are currently just establishing their market and will start earning once they have a big market to charge their services.

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how does google pay make money?

How Does Google Pay, PhonePe, Paytm & UPI Apps Make Money?