Newer companies rise on UPI leaderboard, Navi now the fourth largest

Even as fintech majors including PhonePe, Google Pay, and Paytm continue to dominate the Unified Payments Interface (UPI) ecosystem, newer firms like Navi and Flipkart-backed Super.money are growing at a breakneck pace, processing a significant share of the industry’s payments.

For instance, Sachin Bansal-owned Navi has climbed the UPI leaderboard to become the fourth largest player in the ecosystem, in just over a year since the launch of its UPI operations.