Alarm bells ring for PhonePe and Google Pay: After Arattai, Zoho will now launch a UPI app.

Indian company Zoho has been making waves for some time. Its various apps and services are steadily gaining popularity. Now, Zoho is preparing to launch a UPI payment app.

After making waves with the Arattai app and Ulaa browser, Zoho is now preparing to challenge apps like Paytm and PhonePe. According to reports, Zoho will now launch a UPI-based consumer payment platform, Zoho Pay, which will directly compete with Paytm, PhonePe, and Google Pay. Zoho's Arattai app is being seen as a made-in-India alternative to WhatsApp, and its downloads have been increasing rapidly in recent days. Similarly, the Ulaa browser is also giving Google Chrome a run for its money.

Zoho Pay will be a standalone app.

According to reports, Zoho Pay will be a standalone app and can also be integrated into Arattai Messenger. This will provide Arattai users with both chatting and payment options in a single app, similar to WhatsApp. Zoho already holds a payment aggregator license and offers business payments through Zoho Business. Now, entering the UPI payment ecosystem will increase competition in the market and pose a new challenge to already established companies.

When is the launch expected?

The launch date for the Zoho Pay app has not been revealed yet, but it is speculated that it could be launched in the next quarter. The app is currently undergoing testing and will be launched for Android as well as iOS.

UPI accounts for the highest number of digital transactions

India's digital payment network is the most active in the world. UPI accounts for the highest number of digital payments here. According to a recent report, 17,221 crore transactions were conducted through UPI in 2024, compared to 1,079 crore in 2019. The total value of these transactions was ₹18.4 lakh crore in 2019, while in 2024 this number will increase to approximately ₹247 lakh crore.