Hi Everyone
A query for those invested in and tracking NPST closely. Something I just started pondering on
Have a look at the underlying data on UPI transactions
Disclosure: NO investments in NPST, know very little, haven’t heard Concalls or done any analysis myself, but as is my wont, just trying to understand the sustainability part, first.
UPI Trnsaction Volumes.xlsx (10.7 KB)
Kindly check the accuracy of data in the compilation. Quick n dirty job from me here. Please correct and modify the excel, if necessary
Source(s): UPI P2P and P2M , Budget 2024 Incentives for UPI drops
Can someone who understands NPST business/revenue model well, break it up for us. Q1 revenue split was TSP 20% and TPAP (PPaaS) 80%, right?
P2P – no one makes any money
P2M – GoI refunds NPCI and Banks (for capital spends, digital promotion?)
some banks NOT doing any Capex – decide to use NPST PPaaS infra and commit to sharing some/most of what they receive from NPCI and GoI
if the TPAP pie is 100, How much comes from
- UPI P2M transactions share, why will that NOT be impacted significantly? Who’s paying and from where – beyond say the GoI budgetary/other support?
- How much of NPST UPI P2M revenues is coming say from other than Retail Merchants (who are certainly not paying; when GoI had introduced MDR on P2M initially, transactions fell hugely, and had to be reversed; merchants equate UPI payment as Cash only); Perhaps eGames players, or any other significant segment of merchant custimers that are actually paying?
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