UPI sets a new record with 1.49 Bn transactions worth Rs 2.9 Tn in July

Data released by NPCI for June shows it was UPI’s best-ever month in terms of volume and value, setting a new record with 1.34 bn transactions worth Rs 2.61 tn. This is a new milestone for the NPCI-regulated entity since its inception in 2016.

The lead UPI-based payments apps – Google Pay, PhonePe, Paytm and Amazon Pay – have been controlling more than 90% market share in overall transactions.

While the app-wise breakup data of June is awaited, in May, Google Pay recorded 541 million transactions followed by PhonePe with 444 million, Paytm with 124 million and Amazon Pay with 60 million. In the previous month, Google Pay’s volume stood at 430 million while PhonePe, Paytm and Amazon had done 365 million and 125 million respectively. 

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