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PhonePe continues to rule UPI transactions with over 45% market share in Feb

EntrackrEntrackr · 19d ago
PhonePe continues to rule UPI transactions with over 45% market share in Feb
Medial

PhonePe continues to rule UPI transactions with over 45% market share in Feb According to NPCI data, PhonePe processed 9.28 billion transactions worth Rs 13,10,392.95 crore. The Walmart-backed app held 45.5% share of total UPI transaction volume and 48.8% share by value during the month. PhonePe continued to dominate India’s UPI ecosystem among third-party apps in February, while Google Pay and Paytm retained the second and third positions, respectively. According to NPCI data, PhonePe processed 9.28 billion transactions worth Rs 13,10,392.95 crore. The Walmart-backed app held 45.5% share of total UPI transaction volume and 48.8% share by value during the month. Google Pay followed with 6.76 billion transactions worth Rs 9,03,051.60 crore. The platform accounted for 33.2% share by volume and 33.6% by value. Paytm secured the third position after recording 1.59 billion transactions worth Rs 1,74,128.86 crore, translating to 7.8% share in volume and 6.5% in value. The top three apps reported slightly lower transaction counts than January due to the shorter month. In January, PhonePe processed 9.91 billion transactions, Google Pay handled 7.23 billion, and Paytm recorded 1.66 billion transactions, when the UPI network logged 21.7 billion transactions overall. Among other fintech apps, Navi ranked fourth after processing 650.28 million transactions worth Rs 36,563 crore. Super.money followed with 289.32 million transactions worth Rs 12,314.08 crore. The government-backed BHIM app recorded 175.93 million transactions worth Rs 21,263.92 crore. FamApp by Trio processed 149.06 million transactions valued at Rs 1,898.62 crore. CRED stood at the eighth position after recording 145.98 million transactions. The platform reported a relatively higher transaction value of Rs 54,045.92 crore, reflecting higher ticket sizes. Among bank-owned platforms, Axis Bank Apps processed 132.11 million transactions worth Rs 12,157.93 crore, including customer-initiated and B2C payments. WhatsApp Pay rounded off the top ten after processing 112.89 million transactions worth Rs 8,557.08 crore. Overall, the UPI ecosystem processed 20,394.18 million transactions worth Rs 26,84,229.29 crore in February. The month recorded a marginal dip compared to January due to fewer days, although daily activity remained strong as the average daily transaction count rose to 728 million from 700 million in January.

PhonePe and G-Pay lead UPI volume in April, CRED targets high-value transfers

EntrackrEntrackr · 10m ago
PhonePe and G-Pay lead UPI volume in April, CRED targets high-value transfers
Medial

Fintech platform PhonePe further cemented its dominance in India’s UPI ecosystem in April 2025, maintaining the top spot in both transaction volume and value. The fintech unicorn processed 8,362.31 million UPI transactions worth Rs 12.05 lakh crore. This gave it 46.73% of the total volume and 50.32% of the total value among the top 10 UPI apps. Google Pay held on to second place, with 6,488.55 million transactions worth Rs 8.42 lakh crore. This translates to 36.26% share by volume and 35.18% by value. Paytm came in third, processing 1,210.24 million transactions valued at Rs 1.31 lakh crore, accounting for 6.76% of the volume and 5.48% of the value. CRED shines in high-value payments Navi and super.money took the fourth and fifth positions in terms of volume, with CRED slipping to sixth. However, CRED continued to outperform smaller players in terms of value. The platform processed Rs 49,753 crore through just 134.67 million transactions. This gave the credit-focused app a modest 0.75% share of total volume but a much higher 2.08% share in value. **Other players and total UPI picture** Axis Bank Apps, FamApp by Trio, Amazon Pay, and WhatsApp made up the rest of the top 10. WhatsApp, backed by Meta, was the lowest performer with 67.40 million transactions totaling Rs 5,065.44 crore. In total, UPI processed 17,893.42 million UPI transactions amounting to Rs 23.94 lakh crore in value in April 2025. PhonePe and Google Pay together handled over 82% of UPI transactions and 85% of the total value, clearly dominating India’s digital payments market.

PhonePe records 9.9 Bn UPI transactions in January; CRED slips to 8th position

EntrackrEntrackr · 1m ago
PhonePe records 9.9 Bn UPI transactions in January; CRED slips to 8th position
Medial

PhonePe records 9.9 Bn UPI transactions in January; CRED slips to 8th position PhonePe remained the leader in the Unified Payments Interface (UPI) ecosystem in January. The Walmart-backed fintech processed 9.91 billion transactions, with a 45.7% share of total volume and a 48.6% share by value among UPI apps. Overall, the UPI processed 21.7 billion transactions worth Rs 28,33,481 crore during the month. Google Pay held on to the second position with 7.23 billion transactions. The platform accounted for 33.3% of overall transaction volume and 33.8% of total value. Paytm ranked third with 1.66 billion transactions, translating into a 7.7% share by volume and 6.4% by value. In value terms, Paytm’s UPI transactions amounted to Rs 1,81,973 crore during the period. With the current trend, PhonePe is expected to cross 10 billion monthly transactions very soon. Among mid-sized players, Navi recorded 709 million transactions worth Rs 37,956 crore, followed by super.money, which processed 298 million transactions valued at Rs 12,546 crore. FamPay also continued to gain traction on the UPI platform. The fintech player processed 161 million transactions in January, allowing it to move ahead of CRED in terms of transaction volume during the month. In December, the government-backed BHIM app had overtaken CRED in volume. That trend continued in January, with BHIM handling 172 million transactions worth Rs 22,026 crore, while CRED processed 157 million transactions. Despite lower volumes, CRED continued to lead in value, with transactions amounting to Rs 58,841 crore, reflecting its focus on higher-value payments. Axis Bank’s UPI apps recorded a total transaction volume of 153 million, driven largely by business-to-consumer payments. WhatsApp Pay processed 113 million transactions worth Rs 8,358 crore. Both platforms accounted for less than 1% of total UPI volumes.

PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED

EntrackrEntrackr · 2m ago
PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED
Medial

PhonePe hits 9.8 Bn UPI transactions in December; BHIM overtakes CRED PhonePe has continued to tighten its grip on India’s UPI ecosystem in December with 9.81 billion customer-initiated transactions worth Rs 13.61 lakh crore, according to data compiled from NPCI disclosures. The Walmart-backed fintech held a 45.35% market share by volume and 48.68% by value among the top 10 UPI apps during the month. Google Pay retained the second position with 7.5 billion transactions, accounting for a 34.64% share of total volumes and 34.25% of overall transaction value. Paytm stayed in third place with 1.65 billion transactions in December, representing a 7.65% share by volume and 6.32% by value. Beyond the top three, activity remained fragmented. Navi reported 678 million transactions, while super.money recorded 287 million transactions during the month. The government-backed BHIM app saw 158 million transactions, while CRED slipped to eighth position with 157.25 million transactions. However, CRED registered nearly three times higher transaction value compared to BHIM. Axis Bank’s UPI apps and WhatsApp Pay remained small contributors, each accounting for less than 1% of total transaction volumes. The strong app-level numbers came as UPI overall logged one of its highest-ever monthly transactions in December, with 21.63 billion transactions worth Rs 27.97 lakh crore. The increase was mainly due to year-end spending, continued festive demand, and more people using UPI for small offline payments in tier II and tier III cities. In December, UPI transactions were led by everyday consumption categories, as groceries and supermarkets topped the chart, followed by fast food outlets, restaurants, telecom services, and fuel stations. Digital gold also saw a strong uptick during the month, recording 183.32 million transactions worth Rs 2,079.31 crore from 123.42 million transactions valued at Rs 1,215.36 crore in November.

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