The Unified Payments Interface (UPI) has grown by 100 times in usage since the network was launched in April 2016.

Although transactions on BHIM (Bharat Interface for Money), the government-funded app, have decreased, use of private UPI-linked apps such as PhonePe and Chillr has surged. Banks and private institutions have taken the lead in demonetizing India’s economy through integration with the UPI network, reports The Economic Times.

Data from the National Payments Corporation of India (NPCI) shows that UPI transactions have increased to 9.2 million in May from 6.9 million in April 2017 and 92,000 in August 2016.

UPI transactions made through the BHIM app have dropped to 42% in May from 44% in April 2017, but it saw an increase to 46% in the value of the transactions. The app has been downloaded 20 million times since launch, but use has slowed down in recent months, mainly due to the expanding UPI network which links together 50 banks.

Another factor that slowed down BHIM use is the entrance of new competitors, such as Samsung Pay, on the market, who adopted the payments platform and integrated their services with it. Other companies like Android Pay and Stripe are also planning to launch their mobile payments services in India through the UPI network.