WinZo saw 40 bn micro-transactions on its platform in FY23, mostly via UPI

Indian gaming firm WinZo on Tuesday said that it recorded 40 billion micro-transactions on its platform in 2022-23. These are small ticket-size transactions that are carried out by users on its platform to make purchases during the gameplay.

In March alone, it saw 4.3 billion micro-transactions on its platform. In the quarter that ended on March 31, the total number of such transactions was over 12 billion.

The company also said that at least 75 per cent of these transactions take place using the united payments interface (UPI). In FY24, WinZo is aiming to take the volume of micro-transactions to 55 billion.

The company added that it contributes to at least one out of every 250 UPI transactions that occur in India and accounts for over 30 million UPI transactions per month. Every fourth user of WinZo, it said, experiences their first-ever digital transaction on the platform.

To make a purchase on the platform, a user needs to first deposit money in their WinZo wallet and then make the transaction using the balance.

"WinZO's new users add small amounts to their WinZO wallet and then engage in gaming activities through frequent micro transactions as low as Rs 1. This entire business and infrastructure model heavily relies on UPI, without which it wouldn't have been feasible. UPI is often touted as the eighth wonder of the world and widely recognised as the biggest driver of technological innovation, financial inclusion, and digitisation of payments globally," said Paavan Nanda, co-founder at WinZo.

WinZO also employs artificial intelligence (AI) and machine learning (ML) algorithms to analyse users' payment and spending patterns to identify and prevent any suspicious transactions on the platform.

"WinZO has optimised its transactions and payments platform, developing its own load balancers and dynamic routers to efficiently handle high transaction volumes and minimise delays," it said.

Apart from its platform, WinZO has also tied up with several payment providers such as Paytm, RazorPay, JusPay, and CashFree to maintain a backup gateway.