Government-backed UPI app BHIM has staged a notable comeback over the past year, with strong growth in transactions, value, and rankings. The app has moved up significantly in the UPI ecosystem, representing improved user adoption and engagement, even as the market continues to be dominated by larger private players such as PhonePe and Google Pay.
According to data from the National Payments Corporation of India, BHIM’s customer-initiated transaction volume surged 4.7X to 175.93 million in February 2026 from 36.88 million in February 2025. In value…

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