PhonePe, Google Pay (GPay), and Amazon Pay are digital payment platforms that make money through various revenue streams, such as:
1. Merchant fees: These platforms charge merchants a fee for using their payment gateway services to accept payments from customers. The fee is usually a percentage of the transaction amount.
2. Payment processing fees: These platforms earn money by charging fees for processing payments made through their platform. These fees may vary depending on the type of payment method used, the transaction amount, and other factors.
3. Interest on funds: PhonePe, GPay, and Amazon Pay may also earn interest on the funds held in their customers' digital wallets. This interest income can be a significant source of revenue for these platforms.
4. Advertising revenue: These platforms may earn money by displaying targeted ads to their customers based on their transaction history, search history, and other data. These ads can be from various businesses that pay these platforms to display their ads.
5. In-app purchases: PhonePe, GPay, and Amazon Pay also offer various in-app services, such as insurance, mutual funds, and other financial products. These platforms earn money by charging fees for these services or by earning commissions from the businesses that offer these services through their platforms.
Overall, these digital payment platforms make money through a combination of merchant fees, payment processing fees, interest on funds, advertising revenue, and in-app purchases.