UPI platforms PhonePe and Google Pay saw a marginal decline in their total volume while the third largest player Paytm recorded a stagnant growth in the last month.
Overall, UPI saw a marginal dip of approximately 1% in total transaction volume to 13.9 billion in June from 14 billion in May. Moreover ,the transaction value also reduced by a thin margin to Rs 20.07 lakh crore from Rs 20.45 lakh crore.
As per data disclosed by NPCI, PhonePe made 6.7 billion transactions of Rs 10.09 lakh crore in June while Google Pay and Paytm’s transactions were recorded at 5.1 billion worth Rs 7.07 lakh crore and Rs 1.1 billion worth Rs 1.2 lakh crore respectively.
Volume wise, PhonePe had 48.3% market share in UPI in June followed by Google Pay and Paytm with 36.7% and nearly 8% market share respectively.
