PhonePe records slight drop in UPI market share as April volumes fall

PhonePe's UPI market share slipped to 46.73 per cent in April amid a 2.22 per cent dip in total transactions on the real-time payments network

PhonePe, the market leader in Unified Payments Interface (UPI), saw a marginal dip in its market share in April, at a time when total transaction volumes across the real-time payments ecosystem declined by 2.22 per cent.

 

The Bengaluru-based company, which is the largest on the UPI network, recorded a market share of 46.73 per cent in April. This was a decline from 47.25 per cent in March.

 

The company processed 8.36 billion transactions with a cumulative value of ₹12.05 trillion in April. This was in contrast to 8.64 billion transactions with a total value of ₹12.57 trillion in