According to NPCI data, India's UPI network processed 18.4 billion transactions worth Rs 24.04 lakh crore in June, a slightly lower figure than the previous month. Despite the dip, PhonePe and Google Pay remained the market leaders, accounting for more than 82% of all UPI transactions by volume.

Key Highlights

• PhonePe and Google Pay dominated June UPI transactions with combined approx. 82% market share.
• State‑backed BHIM app rejoined UPI’s top‑10, marking notable comeback after a long absence.

PhonePe once again topped the chart, with 8.55 billion transactions and a total value of Rs 11.99 lakh crore. It accounted for 46.5% of total UPI volume and nearly 50% of the value. Google Pay followed with 6.54 billion transactions and a value of Rs 8.41 lakh crore, accounting for 35.6% by volume and 35% by value.

Paytm remained in third place with 1.27 billion transactions totaling Rs 1.34 lakh crore. The Noida-based company accounted for 6.9% of total UPI volume and 5.6% of value.

Super.money outperforms CRED in terms of transaction volume but lags significantly in value. Trio's new-age platforms Navi and FamApp processed 406 million and 113 million transactions, respectively. Navi was valued at Rs 21,815 crore, while FamApp was worth only Rs 1,440 crore.

Amazon Pay and BHIM recorded 93 million and 73 million customer-initiated transactions, respectively, valued at Rs 9,942 crore and Rs 11,726 crore. After a 17-month hiatus, the government-promoted BHIM has returned to the top ten UPI apps by volume.

Private bank-led UPI apps, such as Axis Bank Apps, had a low volume (24 million) but processed Rs 5,231 crore. Notably, it was the only app that reported B2C UPI transactions, with 102 million transactions totaling Rs 4,155 crore in this category.

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Aside from India, UPI is currently available in Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE. According to media reports, the NPCI intends to expand UPI to additional countries, including Qatar, Thailand, Malaysia, and other Southeast Asian nations. Meanwhile, the United Kingdom, Oman, and the Maldives have expressed interest or initiated early integration. Namibia is also planning to launch UPI services later in 2025.