PhonePe clocks record 8.1 bn UPI transactions in January, shows NPCI data

Fintech firm PhonePe processed a record 8.1 billion transactions on the Unified Payments Interface (UPI), followed by Google Pay’s 6.18 billion and Paytm’s 1.15 billion in January, data from the National Payments Corporation of India (NPCI) shows.

PhonePe continued to dominate the UPI ecosystem, commanding a 47.67 per cent market share, with Google Pay and Paytm holding 36.38 per cent and 6.78 per cent, respectively.