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| 11dPhonePe Tops UPI Chart With 6.5 Bn Transactions In April
PhonePe continues to dominate the UPI ecosystem in India with a market share of 48.87%, processing 6.5 billion transactions out of a total of 13.3 billion in April. Google Pay and Paytm retained their second and third positions with a market share of 37.5% and 8.3% respectively. CRED secured the fourth spot, while Amazon Pay, Fampay, and BHIM also made notable transaction numbers. Despite a slight decline in transaction volume and value, PhonePe remains a strong player due to its continued investments in subsidiaries. Paytm, however, has experienced a decline in transactions since regulatory measures were imposed on its payments bank.
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