Walmart-backed digital payments platform PhonePe maintained its leadership position in the Unified Payments Interface (UPI) ecosystem in April, processing more than 10.33 billion transactions, according to data released by the National Payments Corporation of India (NPCI).
UPI recorded a total of 22.34 billion transactions during the month, slightly lower than March’s record 22.64 billion transactions. Despite the marginal decline, the payments network continued to witness strong growth across merchant and peer-to-peer transactions.
PhonePe accounted for nearly 46.2% of the total UPI transaction volume in April. In value terms, the platform held a 49.3% market share after processing transactions worth Rs 14.31 lakh crore. The company had first crossed the 10 billion transaction milestone in March with 10.5 billion transactions.
Google Pay remained the second-largest UPI platform with 7.36 billion transactions during April, representing around 32.9% market share by volume. By transaction value, it processed Rs 9.72 lakh crore, accounting for nearly 33.5% market share.
Paytm retained the third position after handling 1.77 billion transactions, capturing nearly 8% market share by volume and around 6.7% by value.
Among emerging UPI players, Navi processed more than 801 million transactions, while super.money handled 369 million transactions. BHIM recorded 210 million transactions during the month.
Other growing platforms also continued gaining traction. FamApp by Trio processed around 183 million transactions, while CRED handled 157 million transactions worth Rs 56,569 crore. Despite lower transaction volumes, CRED maintained a higher value share, reflecting a larger average transaction size among its users.
Meanwhile, WhatsApp processed close to 139 million transactions, while Axis Bank apps contributed a smaller share across business-to-consumer transactions.
NPCI data also showed that grocery and supermarket purchases remained the largest merchant category in April with 3.72 billion transactions worth Rs 80,449 crore. Fast food restaurants, restaurants, telecommunication services, and fuel stations were among the other leading categories driving UPI usage.
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