WinZO, the leading online gaming firm, announced surpassing 40 billion micro transactions in FY23. With a projected annualized micro-transaction volume of 55 billion in FY24, WinZO continues to revolutionize the online gaming landscape.
These micro transactions are small ticket size transactions carried out by the users within the WinZO ecosystem during their game play. WinZO gamers use the digital payment methods, predominantly UPI, to deposit funds in their WinZO wallet, which in-turn is used for making the in-game microtransactions. UPI accounts for at least 75 percent of the transaction volume on WinZO’s platform.
WinZO contributes to atleast one out of every 250 UPI transactions that occur in India and accounts for over 30 million UPI transactions per month. This represents the highest volume of UPI transactions driven by any digital content player in India.
Impressively, every fourth user on WinZO experiences their first-ever digital transaction, with a substantial number of newcomers hailing from smaller villages and towns across India. Places like Ghazipur, Daudnagar, Khavda, Khimsar, Vidisha, and Sitlakhet have witnessed WinZO’s profound impact, introducing these users to the digital payment landscape and opening new possibilities as they connect to the digital grid. This accomplishment aligns with the broader vision of digital India.
“WinZO’s new users add small amounts to their WinZO wallet and then engage in gaming activities through frequent micro transactions as low as ₹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 recognized as the biggest driver of technological innovation, financial inclusion and digitization of payments globally. By providing a simple and secure platform for digital payment services, UPI has greatly enhanced market access for startups like WinZO that rely solely on digital payments for its business. We are thrilled to have achieved such a significant scale in micro transactions, thanks to UPI,” said Paavan Nanda, co-founder of WinZO.
WinZO’s impressive growth trajectory is evident in its remarkable milestone achieved in March this year, with a record monthly micro transaction count of approximately 4.3 billion. The quarter ending in March ’23 saw WinZO complete its first quarter with over 12 billion transactions, fueled by successful user acquisition efforts and high user engagement resulting from the introduction of innovative formats and games. Additionally, WinZO strategically leveraged growth opportunities in the previous financial year, including impactful TV campaigns launched during the IPL in partnership with Ogilvy’s Chief Global Creative Officer Piyush Pandey, and featuring brand ambassador MS Dhoni. Furthermore, WinZO secured the principal sponsorship of Kolkata Knight Riders (KKR) during the IPL 2022.
WinZO has established a strong foothold in tier II and beyond markets (Bharat), with over 90% of its 130 million registered users located in these regions. Additionally, WinZO partners with local state and cooperative banks to offer UPI promotions and incentives to their account holders, further enhancing traction and trust among Bharat users. WinZO has further enhanced user understanding and confidence by providing a multilingual payments page, available in 12 languages. This enables users to comfortably carry out transactions on a digital platform for the first time.
With a focus on user security. WinZO employs AI and ML algorithms to analyze users’ payment and spending patterns, effectively identifying and preventing any suspicious transactions on the platform. This measure safeguards users’ financial interests. WinZO has optimized its transactions and payments platform, developing its own load balancers and dynamic routers to efficiently handle high transaction volumes and minimize delays. The platform is designed to function seamlessly on low-spec mobile devices and devices with limited internet connectivity. Additionally, WinZO maintains backup gateways and partnerships with leading payment providers such as Paytm, RazorPay, JusPay, and CashFree, to ensure uninterrupted service.
The digital payments market in India is poised for exponential growth, expected to expand to Rs 4,000 lakh crore by fiscal year 2026, from the current Rs 3,200 lakh crore. This projected growth presents a substantial advantage for companies like WinZO that rely exclusively on digital payments for users to access their paid services on the platform.