UPI Records 18.4 Billion Transactions in June, Slight Dip from Previous Month

India's Unified Payments Interface (UPI) network processed 18.4 billion transactions worth ₹24.04 lakh crore in June 2025, as per data from the National Payments Corporation of India (NPCI). While this marked a slight decline from May's figures, the digital payments ecosystem remains robust with key players holding their positions firmly.

PhonePe and Google Pay Continue to Dominate

The UPI ecosystem remains heavily concentrated among two platforms—PhonePe and Google Pay—which together accounted for over 82% of the total UPI transaction volume.

• PhonePe maintained its lead with 8.55 billion transactions worth ₹11.99 lakh crore, representing 46.5% of the volume and nearly 50% of the total transaction value.
• Google Pay followed with 6.54 billion transactions amounting to ₹8.41 lakh crore, capturing 35.6% of the volume and 35% of the value.
• Paytm continued to rank third, handling 1.27 billion transactions valued at ₹1.34 lakh crore. The company accounted for 6.9% of the total UPI volume and 5.6% of the value.

New-Age Platforms Gaining Ground

Among the rising players in the UPI space:

• super.money leads over CRED in transaction volume but significantly lags in terms of value.
• Navi, a newer entrant, processed 406 million transactions worth ₹21,815 crore.
• FamApp by Trio recorded 113 million transactions, although the total value remained modest at ₹1,440 crore.

BHIM Re-Enters Top 10 as Amazon Pay Stays Steady

• Amazon Pay processed 93 million customer-initiated transactions valued at ₹9,942 crore.
• The government-backed BHIM app made a comeback to the top 10 UPI apps by volume after a 17-month gap, with 73 million transactions worth ₹11,726 crore.

Private Bank Apps Remain Niche Players

Private bank-led UPI apps had limited reach in volume but still played a role in high-value transactions.

• Axis Bank Apps recorded only 24 million transactions but handled ₹5,231 crore in value.
• It was the only app to report B2C (business-to-consumer) UPI transactions, managing 102 million transactions totaling ₹4,155 crore in this segment.

Global Expansion of UPI Underway

UPI's global footprint continues to grow. The service is currently live in Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE

Looking ahead, the NPCI is eyeing expansion into:

• Qatar, Thailand, Malaysia, and other Southeast Asian countries
• The UK, Oman, and the Maldives are in early-stage integration
• Namibia is expected to launch UPI services by late 2025

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