According to April data released by the National Payments Corporation of India (NPCI), Walmart-backed digital payments platform PhonePe maintained its strong dominance in the UPI market. Out of the total 22.34 billion UPI transactions in the country in April, over 10.33 billion transactions were processed through PhonePe. This is about 46.2 per cent of the total market share. In terms of monetary value, PhonePe has acquired a 49.3 per cent share, having processed transactions worth Rs 14.31 lakh crore.<\/p>\n\n\n\n
Google Pay remains at the second position in this list with 7.36 billion transactions; this is 32.9 per cent of the total UPI transactions. Paytm has maintained its third position in the market despite past crises, having processed 1.77 billion transactions. Paytm has a market share of around 8% in terms of volume and 6.7% in terms of value.<\/p>\n\n\n\n
Apart from these, new platforms like Navi, super.money, BHIM and popular apps like CRED and WhatsApp are also recording good growth in the market. Although the number of transactions made through the CRED app is low, the majority of transactions are made through it in high amounts. The report also states that most of the UPI transactions taking place in the country are used for daily needs such as groceries, supermarkets, restaurants and fast food centers.<\/p>","protected":false},"excerpt":{"rendered":"
According to April data released by the National Payments Corporation of India (NPCI), Walmart-backed digital payments platform PhonePe maintained its strong dominance in the UPI market. Out of the total 22.34 billion UPI transactions in the country in April, over 10.33 billion transactions were processed through PhonePe. This is about 46.2 per cent of the total market share. In terms of monetary value, PhonePe has acquired a 49.3 per cent share, having processed transactions worth Rs 14.31 lakh crore.<\/p>","protected":false},"author":9,"featured_media":8578,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-8789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-news"],"yoast_head":"\n