Between G-Pay and PhonePe, the later boosts its market share in UPI to 46%

PhonePe has recorded a new high in terms of the number of transactions in the month of June. PhonePe has recorded 1292.71 million transactions amounting to 262,565.88 crore in June as compared to Google’s Pay 972.26 million transactions worth Rs 207,287.73 crore, data released by the National Payments Corporation of India shows.

PhonePe now controls 46% share in the UPI ecosystem while Google Pay has 34.6%. The Bengaluru-based company had 45% market share in May and Google pay recorded 34.67%. Where PhonePe was able to increase its share by 1%, Google Pay remained flat for the month.

UPI had registered 2807.51 million transactions in June in which peer-to-peer transactions stood at 1550.08 million and the remaining 1257.43 million belonged to peer-to-merchants.

In the top five list, Paytm Payments Bank maintained its third position with 326.53 million transactions worth Rs 40,614.09 crore. PPB was followed by Amazon Pay and Yes Bank apps. BHIM, which recorded 22.84 million transactions worth Rs 7319.77 crore, was ahead of Yes Bank apps in terms of value of transactions processed through its platform.

WhatsApp’s payment feature did not show any growth and recorded a mere 0.46 million transactions worth Rs 42.44 crore. The company is likely to ramp up its pace in the coming months as it has been allowed to broaden its user base. According to Entrackr’s sources, NPCI has given a nod to WhatsApp to further expand its UPI-based payments feature to more users.