Navi crosses 1% market share in UPI transactions in December 2024

Fintech firm Navi saw its market share cross just over 1 per cent on India’s real-time payments system, Unified Payments Interface (UPI), in December 2024. This marks the first time in months that a firm outside the top three players—PhonePe, Google Pay, and Paytm—has achieved this feat.

In comparison, the Bengaluru-based company processed less than 0.01 per cent of the ecosystem’s total transactions in December 2023. Navi launched UPI payments on its application in August 2023.