How Google Pay Makes Money

Updated: Oct 13, 2021

UPI Transactions are free. Registration and bank account linking to UPI are also free, then how Google makes money.



These are the 3 main Revenue Sources of Google Pay -

  • Bill payments

  • Mobile Recharges

  • UPI Transactions

Bill Payments -

We can pay different Kinds of bills like electricity bills, DTH recharges, loan payments, etc. Gpay gets a commission from the company for these transactions.



Mobile Recharges -

It is the primary revenue source for GPay.Whenever we make recharge on a SIM operator using GPay, it gets commissions for the transaction



UPI Transactions -

Google might not earn any revenue from UPI transactions. Still, it gains access to user's data, which it then uses to present the services and suggestions on products that will perfectly capture their interest and thus increase their involvement with the app, growing its base further.\


Some Statistics -

Google Pay’s India financials indicated that the company’s profit for the fiscal year ending March 31, 2020 (FY20) stood at INR 33 Cr, a 6.5x growth from the last fiscal year’s profit of INR 5.1 Cr. The company’s EBITDA margin also grew from 3.49% in FY19 to 5.02% this year.

Last month, Inc42 reported that Google India’s revenues have grown 34.8% to about INR 5,593.8 Cr in 2019-20 over the previous financial year, as per regulatory documents. Further, the net profit was higher by about 23.9% at INR 586.2 Cr in FY20 as compared to INR 472.8 Cr in the preceding fiscal.

Google is the 2nd largest market share at around 41%, for digital payments through the National Payment Corporation of India(NPCI)-operated Unified Payments Interface (UPI) network.