Google Pay Beats Paytm, PhonePe To Become #1 UPI App; HDFC Beats ICICI, SBI In This Ranking

By Radha Joglekar Last updated Dec 24, 2020

Google Pay Beats Paytm, PhonePe To Become #1 UPI App; HDFC Beats ICICI, SBI

Among all the popular, and some unpopular banks in India, HDFC has been ranked first among the 100 Banking, financial services and insurance (BFSI) companies in the country.

Additionally, Google Pay has become the number one UPI app beating all other digital payment platforms

Read on to find out why HDFC and Google have been recognized to be at the top of their game!

HDFC Bank Is The Top Lender: ICICI And SBI Follow Close

According to the BFSI Movers and Shakers 2020 report by Wizikey, HDFC has emerged as the top player among the 100 Banking, financial services and insurance (BFSI) companies in the country because of its customer service, monetary management, and innovative offerings amid the coronavirus pandemic.

The report states that another reason the bank has been named as one of the best is HDFC Bank’s involvement to introduce various schemes and ventures. This includes launching ‘summer treats’, offering no-cost EMI options and no down payment for large appliances, etc.

After HDFC Bank, ICICI Bank and the State Bank of India (SBI) have been found to be the second and third best banks in the BFSI segment. These banks have made it to the top by demonstrating a quick transformation to serve the citizens through the arterial reach.

HDFC, ICICI, SBI, Yes Bank, PNB, HSBC Bank, Kotak Mahindra Bank, Bank of Baroda, Deutsche Bank, and IDBI are the top 10 banks of 2020, as reported by the BFSI Movers and Shakers report.

Yes Bank was the bank that was an unexpected ranking in the list, whereas ICICI bank was the most preferred bank when it came to moratorium rules, new loan policy, discounts, offers on credit cards. It also became the first bank to use satellite data to assess farmer loans.

Google Pay Number One UPI App, YONO Tops Neo Banks Category

Google Pay has been named as the number one UPI app, followed by Phone Pe, Paytm and Whatsapp.

YONO has been named as the number one in the Neo Banks category, followed by Niyo and Kotak 811. Whereas, Airtel Payments Bank is at the top in the payments bank category, followed by Paytm Payments Bank and Jio Payments Bank.