PhonePe handles 11.19 billion UPI transactions in India in August
Business
PhonePe just crossed the 11 billion monthly transaction mark in India's UPI payments scene, handling 11.19 billion transactions in August, up from July and making up nearly half of all UPI payments that month.
If you use PhonePe, you're definitely not alone!
PhonePe ₹14.26L/cr near 48% UPI share
The platform also processed ₹14.26 lakh crore in transaction value, holding almost 48% of the market share by value.
Google Pay followed with 7.91 billion transactions (₹10.07 lakh crore), while Paytm came third at 1.97 billion transactions.
Together, these three apps handled over 85% of all UPI activity in August!
Plus, a new fee on certain merchant payments is coming soon, which could mean more revenue for these payment giants down the line.