PhonePe leads UPI payments with over 970 mn transactions in February

The Walmart-owned firm, which competes with Google Pay, Paytm and Amazon Pay, now processes some 1.07 billion monthly transactions across UPI, cards and wallets

Walmart-owned PhonePe said that it continues to be the digital payments market leader in February, processing over 970 million UPI (unified payments interface) transactions, and over 1.07 billion total transactions across UPI, cards and wallets. PhonePe said this growth is an indication of strong user preference on the back of the highest end-to-end success rates on UPI payments, and its superior product experience.

PhonePe competes with players such as Google Pay, Paytm and Amazon Pay. The firm said it processed more than a billion transactions for the third consecutive month in February and continues to lead the digital payments market