IPO-bound PhonePe, Google Pay maintain UPI ecosystem dominance in May

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Digital payments majors PhonePe and Google Pay continued to dominate the Unified Payments Interface (UPI) ecosystem in May, holding significant market shares in terms of both volumes and value, according to data from the National Payments Corporation of India (NPCI).

On its way to listing on the Indian exchanges, PhonePe cornered half the UPI market last month. The fintech saw Rs 12.56 lakh crore change hands in 8.7 billion transactions, accounting for 50% and 47% of the overall UPI value and volume during the period.

Google Pay logged over 6.7 billion…



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IPO-bound PhonePe, Google Pay maintain UPI ecosystem dominance in May


Digital payments majors PhonePe and Google Pay continued to dominate the Unified Payments Interface (UPI) ecosystem in May, holding significant market shares in terms of both volumes and value, according to data from the National Payments Corporation of India (NPCI).

On its way to listing on the Indian exchanges, PhonePe cornered half the UPI market last month. The fintech saw Rs 12.56 lakh crore change hands in 8.7 billion transactions, accounting for 50% and 47% of the overall UPI value and volume during the period.

Google Pay logged over 6.7 billion…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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