PhonePe hits 10B UPI transactions in March, 1st in India
Business
PhonePe just became the first payment app in India to cross 10 billion UPI transactions in a single month, hitting this huge milestone in March, that's nearly half of all UPI payments made across the country for the month, showing just how much digital payments have become a part of daily life.
PhonePe holds about 46% UPI share
PhonePe now holds about 46% of total UPI transaction volume and almost half of the total value. Google Pay is next with around 33%, while Paytm trails at under 8%.
Even though smaller apps like CRED and BHIM don't handle as many transactions; CRED is still making an impact, especially with higher-value payments from its users.
Digital payments are clearly on the rise, making cashless spending more common than ever for everyone.