🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

PhonePe, G-Pay lead UPI transactions in December; Paytm struggles

EntrackrEntrackr · 6m ago
PhonePe, G-Pay lead UPI transactions in December; Paytm struggles
Medial

PhonePe, G-Pay lead UPI transactions in December; Paytm struggles In December, the market share of the top three UPI apps by transaction volume saw PhonePe leading with a dominant share of 47.7%. Google Pay followed with a strong 36.7%. The UPI payment ecosystem continued to see dominance from PhonePe and Google Pay in December 2024, with both platforms recording substantial transaction volumes and values. While PhonePe led the market in both transaction volume and value, Google Pay maintained a strong second-place position. According to the latest data, PhonePe registered 7.98 billion transactions with a total transaction value of Rs 11.76 lakh crore. Meanwhile, Google Pay recorded a transaction volume of 6.1 billion and a value of Rs 8.22 lakh crore for the month. On the other hand, Paytm, a key player in the digital payments space, struggled to keep pace with its competitors. It recorded a relatively smaller transaction volume of 1.15 billion, with a total value of Rs 1.25 lakh crore. In December, the market share of the top three UPI apps by transaction volume saw PhonePe leading with a dominant share of 47.7%. Google Pay followed with a strong 36.7%, while Paytm captured a smaller share of 6.87%. In terms of value, the trio’s market share stood at 50.6%, 35.38%, and 5.4% respectively. While PhonePe and Google Pay saw a slight increase in their market share compared to November, Paytm experienced a small decline, with its market share dropping from 6.95% in volume and 5.48% in value. Citing NPCI data, brokerage firm UBS said that Paytm did not gain any UPI market share in December, despite the company receiving clearance to add customers in October. Additionally, the Noida-based company’s shares dropped by 7.5% on Wednesday. Navi, which recently emerged as the fourth-largest player in terms of UPI volume, processed 202.53 million transactions amounting to Rs 11,317.09 crore, while Cred recorded 143.07 million transactions, valued at Rs 50,979.94 crore. As the competition heats up, NPCI has extended the compliance timeline for TPAPs exceeding the volume cap in UPI by two years. The Dilip Asbe-led firm also allowed Meta-owned WhatsApp to extend UPI services to its entire user base across the country. In December, WhatsApp recorded 57.7 million transactions worth Rs 4,348.19 crore and is ranked 11th among UPI-based apps.

Related News

PhonePe widens lead over G-Pay in March; CRED’s UPI ranking slips to 7th

EntrackrEntrackr · 3m ago
PhonePe widens lead over G-Pay in March; CRED’s UPI ranking slips to 7th
Medial

PhonePe widens lead over G-Pay in March; CRED’s UPI ranking slips to 7th While the top five UPI apps — PhonePe, Google Pay, Paytm, Navi, and Super.money — maintained their positions, CRED dropped to seventh place, overtaken by Axis Bank. The Unified Payments Interface (UPI) recorded a 13.6% increase in volume in March, reaching 18.30 billion transactions. While the top five UPI apps — PhonePe, Google Pay, Paytm, Navi, and Super.money — maintained their positions, CRED dropped to seventh place, overtaken by Axis Bank. This follows a similar shift in February, when Super.money replaced CRED in the top five rankings. Axis Bank moved ahead of CRED after recording 125 million B2C transactions in March. In the UPI system, B2C (business-to-customer) transactions include payments like refunds, salaries, or cashback that businesses send to customers. With a commanding 47.25% market share by transaction volume, PhonePe retained its top position by processing 8.64 billion transactions. Google Pay followed closely with 36.04%, handling 6.59 billion transactions. Together, the two giants controlled over 83% of the UPI transaction volume. Paytm, the third largest player, contributed a 6.67% share (1.22 billion transactions). In terms of transaction value, PhonePe again led with a 50.76% market share, handling over Rs 12.57 lakh crore, followed by Google Pay at 34.99% (Rs 8.66 lakh crore). CRED, despite a modest volume share of 0.79%, emerged as a high-value player and contributed Rs 55,091.22 crore, or 2.22% of the total value. This reflects the firm’s positioning among high-value users. Other apps like Amazon Pay, ICICI Bank, and Axis Bank had a relatively minor presence in terms of both volume and value but still catered to specific user segments. In a recent development, the Indian government approved a new scheme with a budget of Rs 1,500 crore to encourage small merchants to use digital payments through the BHIM-UPI platform.

Paytm UPI payments drop further in March; PhonePe, Google Pay show gains

Economic TimesEconomic Times · 1y ago
Paytm UPI payments drop further in March; PhonePe, Google Pay show gains
Medial

Paytm, a leading digital payments company, experienced a slight decline in Unified Payments Interface (UPI) transactions in March. While Paytm processed around 1.2 billion UPI transactions, down from 1.3 billion in February and 1.4 billion in January, its competitors PhonePe and Google Pay saw an increase in transaction volumes. Google Pay processed 5 billion transactions in March, while PhonePe processed 6.5 billion transactions. Paytm has been steadily losing market share on UPI and has shifted its UPI payments to four large banks. Overall, UPI payments rose to 13.4 billion in March. NPCI is closely monitoring the market share dynamics as there is a regulatory mandate to restrict any single payment application from exceeding 30% market share on UPI.

PhonePe, G-Pay reach peak UPI volumes in May; Super.money maintains lead over CRED

EntrackrEntrackr · 1m ago
PhonePe, G-Pay reach peak UPI volumes in May; Super.money maintains lead over CRED
Medial

PhonePe, G-Pay reach peak UPI volumes in May; Super.money maintains lead over CRED In May, UPI recorded a total of 18.67 billion customer-initiated transactions amounting to Rs 25.14 lakh crore. Of these, 6.82 billion (36%) transactions valued at Rs 18.17 lakh crore (72%) were peer-to-peer (P2P), while the remaining 11.85 billion transactions worth Rs 6.96 lakh crore were peer-to-merchant (P2M). PhonePe and Google Pay continued their dominance in the UPI ecosystem in May 2025, maintaining their positions as the top two apps by both transaction volume and value. As per the latest NPCI data, PhonePe retained its lead with 8.68 billion transactions in May, which translates to a 46.47% share of the total volume among the top players. In terms of transaction value, the app processed Rs 12.56 lakh crore and controlled a 49.97% share. Google Pay followed closely with 6.74 billion transactions and Rs 8.85 lakh crore in value, capturing 36.09% and 35.20% of the volume and value shares, respectively. For PhonePe and Google Pay, May marked their highest transaction volumes since their previous peaks of 8.64 billion and 6.59 billion, respectively, in March. Together, these two apps handled more than 80% of all customer-initiated UPI transactions in the country. Paytm maintained its position in third place by processing 1.27 billion transactions and Rs 1.38 lakh crore in value. However, its 6.84% share of the transaction volume compared to a 5.49% share of value indicates that its users largely engage in low-ticket payments. CRED, on the other hand, stood out for its performance in high-value transactions. Despite accounting for just 141.95 million transactions (0.76% of the volume), CRED recorded a transaction value of Rs 55,242.72 crore, which translates into a 2.20% share of the total value processed. In terms of volume, Navi and Flipkart’s Super.money are ahead of CRED with 386.21 million and 203 million transactions, respectively. Axis Bank apps, which also handled 96.92 million B2C transactions, captured the 7th position. Fampay by Trio (110.38 million), Amazon Pay (98.68 million), and WhatsApp (70.19 million) held the 8th, 9th, and 10th positions, respectively. Super.money overtook CRED to become the fifth-largest UPI app in February and has maintained its lead over the fintech unicorn ever since.

PhonePe dominates UPI ecosystem with 49% market share in April

EntrackrEntrackr · 1y ago
PhonePe dominates UPI ecosystem with 49% market share in April
Medial

Digital payments platform PhonePe has continued to be the number one player in the unified payments interface (UPI) ecosystem with a market share of close to 49% in April 2024 across P2M (person to merchant) and P2P (person to person) transactions. PhonePe has maintained the leadership position in the overall UPI transactions for more than 40 months (since November 2020). As per the data issued by the National Payments Corporation of India (NPCI), PhonePe clocked 6.5 billion transactions via UPI out of the total transactions of 13.3 billion in the last month. This roughly translates to 48.87% market share in the UPI ecosystem which also includes players like Google Pay and Paytm, among many others. UPI transactions declined in volume in April by 1% to 13.3 billion from 13.44 billion in March. The total transaction value in the same period also fell 0.7% to Rs 19.64 trillion from Rs 19.78 trillion in March. While PhonePe and Google Pay registered 6.5 billion and 5 billion transactions respectively in March as well as in April, Paytm’s transactions slipped to 1.11 billion from 1.21 billion during the last two months. As of April, Google Pay and Paytm controlled 37.5% and 8.3% market share in the overall (P2M and P2P transactions) UPI ecosystem. Value wise, PhonePe had close to 51% market share followed by Google Pay and Paytm with 35% and 5% share respectively. For Paytm, this is the third consecutive decline in terms of monthly transactions in 2024. The trend can be seen below: In January, RBI had imposed restrictions on Paytm due to compliance concerns. This appears to be the primary reason behind the fall in UPI transactions for the Vijay Shekhar Sharma-led fintech major. The firm also saw a sharp fall in active users after January this year. Entrackr exclusively reported the development in April. Paytm later received permission from NPCI to participate in UPI through the third-party application provider (TPAP) under the multibank model. In April, CRED became the fourth largest UPI-enabled app which processed 138 million transactions. This was followed by Amazon Pay and Fampay with 64.33 and 46.64 million transactions, respectively. Government- promoted BHIM recorded 25 million transactions while WhatsApp reported over 34 million transactions in the last month. Significantly, NPCI is reportedly planning to review its decision to implement a 30% cap on the market share of UPI apps by the end of 2024.

PhonePe, G-Pay hold 82% UPI share in June; BHIM back in top 10 after long hiatus

EntrackrEntrackr · 2d ago
PhonePe, G-Pay hold 82% UPI share in June; BHIM back in top 10 after long hiatus
Medial

PhonePe, G-Pay hold 82% UPI share in June; BHIM back in top 10 after long hiatus India’s UPI network saw 18.4 billion transactions worth Rs 24.04 lakh crore in June, slightly lower than the previous month, as per NPCI data. Despite the dip, PhonePe and Google Pay continued to lead the space, together handling over 82% of all UPI transactions by volume. PhonePe led the chart once again with 8.55 billion transactions and a total value of Rs 11.99 lakh crore. It held 46.5% of the total UPI volume and nearly 50% of the value. Google Pay followed with 6.54 billion transactions and Rs 8.41 lakh crore in value, capturing a 35.6% share by volume and 35% by value. Paytm stayed in third place with 1.27 billion transactions worth Rs 1.34 lakh crore. The Noida-based company controlled 6.9% of the total UPI volume and 5.6% of the value. Among emerging players, super.money leads CRED in terms of transaction volume but lags significantly in value. New-age platforms Navi and FamApp by Trio posted 406 million and 113 million transactions, respectively. Navi recorded Rs 21,815 crore in value, while FamApp stood at a modest Rs 1,440 crore. Amazon Pay and BHIM recorded 93 million and 73 million customer-initiated transactions, respectively, with values of Rs 9,942 crore and Rs 11,726 crore. Government-promoted BHIM re-entered the top 10 UPI apps by volume after a 17-month gap. Private bank-led UPI apps such as Axis Bank Apps had minimal volume (24 million) but processed Rs 5,231 crore. Notably, it was the only app to report B2C UPI transactions, handling 102 million transactions worth Rs 4,155 crore in this category. Apart from India, UPI is currently operational in Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE. According to media reports, NPCI plans to expand UPI to more countries, including Qatar, Thailand, Malaysia, and other Southeast Asian nations. Meanwhile, the UK, Oman, and the Maldives have either shown interest or begun early-stage integration. Namibia is also set to roll out UPI services later in 2025.

Download the medial app to read full posts, comements and news.