PhonePay, Google Pay Continue To Lead UPI Race In June

Maintaining consistency, the Unified Payments Interface (UPI) saw marginal to no change in its app players performance for June.

PhonePe and Google Pay maintained their duopoly followed by Paytm securing the third position.

PhonePe recorded 854.7 Cr transactions, worth INR 11.98 Lakh Cr in the month under review. This transaction count is 1.5% lower than the 868.20 Cr transactions recorded in May.

On the other hand, Google Pay recorded 654.1 Cr UPI transactions in June, declining almost 3% month-on-month from 674.04 Cr transactions recorded in the preceding month.

The overall UPI transaction count slumped to 18.40 Bn in June from an all-time high of 18.68 Bn in the previous month.

As per the data released by the National Payments Corporation of India (NPCI), the UPI transactions in June accounted for INR 24.04 Lakh Cr, a 4.4% decline from INR 25.14 Lakh Cr worth transactions recorded in the previous month.

(The story will be updated soon.)

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