PhonePe Becomes The Leading UPI App, Google Pay Falls Behind

New Delhi, 9th August 2021: Digital payment platform, Unified Payment Interface (UPI) transaction data for July 2021 has been released. In this list, the PhonePe app has emerged as India’s leading UPI app. A total of 1.4 billion transactions have been done through the PhonePe app in July 2021, with a total market share of about 46 percent. Google Pay seems to be lagging in this list. According to the data released by the National Payments Corporation of India (NPCI), a total of Rs 2,88,572 crore transactions have been done in July 2021 from the PhonePe app.

Google Pay ranks second

After PhonePe, Google Pay secured second place. According to the data of July 2021, transactions worth Rs 1,119.16 million i.e. Rs 2,30,874 crore have been done from the Google Pay app. About 387.06 million transactions have been done from the same Paytm Payments Bank app, which was about Rs 46,406 crore. During this period, the market share of Paytm Payments Bank has been around 14 percent. The market share of Google Pay has been around 34.35 percent.

In July 2021, a growth of about 15 percent was achieved from PhonePe as compared to the transaction of the previous month. Similarly, about 5 percent growth has been achieved from Google Pay and about 18.50 percent in the Paytm Payment Bank app. According to the guidelines of NPCI, the total market share of third-party payment apps like PhonePe, Google Pay has been 30 percent. If we talk about the total UPI transactions of July 2021, then the total UPI transactions have been around 3,247.82 million, which has crossed the 6 lakh crore mark for the first time.