App-solute Power: PhonePe’s Swipe Surge Tops the Charts

Image Source: Free Press Journal

India's digital payment arena had its customary front-runner in June 2025, with PhonePe at the helm of the Unified Payments Interface (UPI) space for the second consecutive time with record-breaking transaction values and volumes. The National Payments Corporation of India (NPCI) released its figures to set the platform's steady leadership, followed by Google Pay and Paytm.

Key Points of NPCI Data

PhonePe processed 8.55 billion transactions worth Rs 11.99 lakh crore

It represented 46.5% of total UPI volume and nearly 50% of value of transactions

Google Pay came in second with 6.54 billion transactions valued at Rs 8.41 lakh crore

Both GPay and PhonePe accounted for over 82% of UPI volume and value

Paytm stood third with 1.27 billion transactions worth Rs 1.34 lakh crore

Emerging Players and Market Trends

Navi, headed by Sachin Bansal, settled 406 million transactions amounting to Rs 21,815 crore

Trio's FamApp processed 113 million transactions amounting to Rs 1,440 crore

BHIM UPI returned to the top 10 list after 17 months with 73 million transactions amounting to Rs 11,726 crore

Bank Performance Snapshot

SBI led among the UPI remitter banks with 4.91 billion and 93.64% approval rate

HDFC Bank followed with 1.47 billion transactions and a 95.3% approval rate

Bank of Baroda had 1.23 billion transactions with a 91.09% success rate

While there was some moderation in aggregate UPI activity in May, the June numbers reaffirm the depth of the platform's penetration into India's financial literacy and the heightened competition among fintech players.

Sources: Economic Times, Free Press Journal, Republic World, Entrackr, TechResearchOnline, MSN India