PhonePe, Google Pay slip marginally in May UPI share as WhatsApp, MobiKwik double share to 4.3%
PhonePe held 46.5% share with 1,073.5 Cr transactions worth ₹14.67 Lakh Cr; Google Pay at 32.9% (759.8 Cr) and Paytm at 7.9% (183.6 Cr, ₹1.99 Lakh Cr). Smaller players cumulatively hit 4.3%. NPCI extended the 30% market share cap deadline to December 2026 and is enabling India-Malaysia cross-border QR payments.
PhonePe, Google Pay and Paytm saw marginal UPI market share dips in May while smaller players like WhatsApp and MobiKwik nearly doubled cumulative share to 4.3%. NPCI extended the 30% cap deadline to December 2026 and is enabling India-Malaysia cross-border QR payments.
Also reported by
- Inc42 · Buzz — Same time