Navi climbs UPI leaderboard for second consecutive time, now fifth largest

Navi, a fintech company owned by Flipkart co-founder Sachin Bansal, has become India’s fifth-largest ecosystem player on the Unified Payments Interface (UPI), clocking 120.41 million transactions amounting to Rs 6,549.1 crore in September.

The Bengaluru-based company, which surpassed Amazon Pay’s UPI volumes in August, was just shy of 20 million transactions from the fourth-largest player, Cred, which processed 140 million transactions last month, data from the National Payments Corporation of India (NPCI) shows.