PhonePe and Google Pay under 80% UPI share in May

Business Jun 17, 2026

For the first time ever, PhonePe and Google Pay now handle less than 80% of UPI payments, dropping to a combined 79% in May 2026.
This shift comes as India gears up for the NPCI's 30% market cap rule for a single UPI app, which will stop any single app from controlling more than 30% of UPI transactions by the end of this year.
With around ₹30 lakh crore moving through UPI every month, it's a big moment for digital payments in India.

BHIM 1% Navi super.money combined 5.5%

Smaller apps like BHIM, WhatsApp Pay, Navi, and super.money are finally getting noticed.
BHIM's share has jumped fivefold to hit 1%, while Navi and super.money together hold 5.5%.
The NPCI has helped speed things up by making it easier for new apps to join the party and compete with the big names.