Fintech major PhonePe maintained its lead on the Unified Payments Interface (UPI) leaderboard, processing over 8.54 billion transactions and capturing a 46.46 percent market share, according to data from the National Payments Corporation of India (NPCI).
Google Pay and Paytm processed more than 6.54 billion and 1.26 billion transactions, respectively, cornering 35.56 percent and 6.90 percent market share on the real-time payments system.
In total, 18.39 billion UPI transactions were processed in June, a minor 1.5 per cent decline from 18.67 billion transactions recorded in May.
Comparatively newer third-party applications (TPAPs) such as Navi and Super.money processed 406.01 million and 218.96 million transactions, respectively.
Navi, which received TPAP approval in 2023, had a market share of 2.21 per cent in June.
Super.money cornered a 1.19 percent share in the same month on the UPI leaderboard, having received TPAP approval in 2024.
The NPCI also published state-wise statistics outlining UPI volumes in June.
Maharashtra's contribution to total UPI volumes stood at 8.8 percent, followed by Karnataka's 5.61 percent and Uttar Pradesh's 5.15 percent.
However, in June, a significant 41.7 percent of the total UPI transaction volume was categorised as 'unclassified', a label the NPCI assigns when location data is not received by the retail payments body. -- Ajinkya Kawale, Business Standard