PhonePe handled nearly half of all UPI payments in February

Business Mar 13, 2026

PhonePe just pulled way ahead in the UPI race, handling 9.28 billion transactions worth more than ₹13 lakh crore last month.
That's nearly half of all UPI payments made across India, both by number and value, according to NPCI.

Google Pay comes in 2nd, Paytm holds onto single-digit share

Google Pay came in second with 6.76 billion transactions (about a third of the market), while Paytm managed 1.59 billion, holding onto a modest single-digit share.

UPI overall saw massive growth

UPI overall saw massive growth, more than 20 billion payments worth ₹26.84 lakh crore in February alone, despite it being a shorter month than January.
Daily averages hit an all-time high of 728 million transactions, showing just how much digital payments are now part of everyday life.