Jio & Airtel Benefit from Google Pay & Other Online Payment Platforms

Because of the pandemic and several lockdowns, the need for online connectivity grew multiple folds. During the time, people depended a lot on various online payment platforms to make transactions for almost everything they bought or exchanged. Both Reliance Jio and Bharti Airtel benefitted a lot because of these online payment platforms. This is because users of the telco had no other option but to recharge from their homes using online wallets. Some of the major online payment platforms/wallets included Google Pay, PhonePe, and Paytm. Now, as per a report shared by ET Telecom, telcos received almost 50% of their revenues through online recharges that users made in the past year — more details on the story ahead.

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Jio and Airtel Received 50% of Their Revenue Through Online Recharges

Reliance Jio received 50% of its total revenue for the October-December quarter of 2020 through online recharges. Compared with the earlier quarter of January-March, the telco received only 35% of its revenues through online recharges. It is worth noting that during the quarter ending June 2020, the telco had received 60% of its recharge revenues from online payments, which is still an all-time high for Jio. The revenues being discussed here are only ‘recharge revenues’ and not the gross revenue company made through other segments of its business.

At the same time, the stat was somewhat similar for Bharti Airtel as well. Out of the total recharge revenues of Airtel, the company received half of it through online payments. This means that online payment platforms/wallets have helped the telcos a lot.