PhonePe retains top position on UPI in June, Paytm’s market share slips

Digital payments platform PhonePe continued its dominance in the Unified Payments Interface (UPI) ecosystem in June, cornering around 48.34 per cent market share.

Nearly one out of two transactions on the National Payments Corporation of India (NPCI)-run UPI are processed on fintech major PhonePe’s platform.

The Bengaluru-based fintech unicorn processed 6.71 billion UPI transactions in June, amounting to a cumulative value of Rs 10.09 trillion, according to NPCI data.