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

News on Medial

Related News

August marks all-time high UPI transactions for PhonePe and Google Pay

EntrackrEntrackr · 4m ago
August marks all-time high UPI transactions for PhonePe and Google Pay
Medial

August marks all-time high UPI transactions for PhonePe and Google Pay India’s Unified Payments Interface (UPI) crossed 20 billion transactions in August 2025, marking its highest monthly volume ever. PhonePe continued to lead the digital payments market with 9.15 billion transactions, holding a 45.74% share by transaction volume (9.15 billion) and 48.26% by value (Rs 11.99 lakh crore). According to NPCI data, Google Pay followed with a 35.30% share by transactions (7.06 billion) and a 35.55% share by value (Rs 8.83 lakh crore). For the first time, PhonePe and Google Pay crossed the 9 billion and 7 billion monthly transaction milestones, respectively. Paytm retained the distant third spot with a 7.03% share by transactions (1.41 billion transactions) and a 5.77% share by value (Rs 1.43 lakh crore). The trend also suggests that the combined market share of the top three apps, PhonePe, Google Pay, and Paytm, has declined from 93.22% in January to a little over 88% in July. The entry of new UPI apps along with discounts and promotional offers could be driving this customer shift. Navi registered 504 million transactions (2.52% share by transactions) worth Rs 25,397 crore, while CRED accounted for 150 million transactions (0.75% share by transactions) but a relatively strong 2.24% share by value owing to higher ticket size payments. Axis Bank Apps, BHIM, Amazon Pay, FamApp by Trio, and super.money rounded out the top 10, each holding less than 1% share by transactions. Notably, super.money surpassed CRED in terms of transaction volume. In August 2025, UPI spending was led by debt collection at Rs 77,007 crore, groceries at Rs 68,116 crore, and fuel at Rs 34,547 crore. Digital goods including gaming fell 26% to Rs 7,441 crore after real money app bans.

UPI daily transactions cross 500 Mn mark

EntrackrEntrackr · 1y ago
UPI daily transactions cross 500 Mn mark
Medial

Unified payments interface (UPI) has crossed the milestone of processing 500 million transactions on a daily basis for a couple of times in August. This is a significant jump in daily volume as the Indian government has set the ambitious target of clocking 1 billion transactions per day by 2026-27. As per data published by the NPCI, UPI crossed 500 million transaction count on August 2 and August 5. However, this is the third instance when UPI achieved the milestone. The previous was on July 2, 2024, according to UPI data analyzed by Entrackr. To recall, UPI first crossed 500 million transactions on a monthly basis for the first time in November 2018 and it took less than six years to achieve the same feat on a daily basis. This also shows that the NPCI has developed a robust platform which can handle ever-growing scale. Currently, there are very few companies in India and overseas that are capable of processing over 50 crore transactions on a daily basis. “0.5 Bn/day. Time to revise the India Vision from 1 billion / day to 100 Bn/month,” said NPCI CEO Dilip Asbe on X. In July, UPI transactions rose 3.95% month-on-month to 14.44 billion from 13.89 billion in June. Volume wise, PhonePe had 48.3% market share in UPI as of June followed by Google Pay and Paytm with 36.7% and nearly 8% market share, respectively. A bunch of new players such as CRED, NAVI, Groww, Slice and recently launched Flipkart UPI are also clocking decent volumes in UPI. The volume breakup for July is yet to be published. NPCI has also launched a credit line on UPI facility in which ICICI Bank is one of the leading banks with other five to six lenders. Recently, NPCI chief operating officer (COO) Praveena Rai said that UPI is adding up to 6 million new users every month. Besides India, NPCI has launched the instant payments services in foreign countries including Singapore, France, Mauritius, Nepal, Bhutan, Sri Lanka and the UAE.

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