PhonePe Grabs 46% UPI Market Share In June, Tightens Grip On Fintech

Fintech Market Share: Fintech player PhonePe dominates the Unified Payment Interface (UPI) chart after having processed 8.45 billion transactions, totalling Rs 11.99 rore in June, 2025, capturing 46.46 per cent of market share, as per National Payments Corporation of India (NPCI) data.

The fintech major, which is preparing for its public listing, has maintained a consistent lead in UPI payments, having captured half the market share in May 2025.

Consolidating its rank as number 2 is Google Pay (GPay) with 6.54 billion transactions worth Rs 8.41 lakh crore. It held a 35.6 per cent share in volume and contributed over 35 per cent to total transactions worth Rs 8.41 lakh crore. It held a 35.6 per cent share in volume and contributed over 35 per cent in total transaction value in June.  

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In total, both platforms are credited for 82.1 percent of all UPI volumes and a most share of the transaction value processed during this period.

Paytm, controlled by parent firm One97 Communications, ranked third with a significant gap. The platform recorded 1.27 billion transactions amounting to Rs. 1.34 lakh crore, giving it a 6.9 percent share of UPI volume and 5.6 percent of transaction value.

In the emerging players category in fintech, Sachin Bansal led Navi, has already registered 406 million transactions totaling Rs. 21,815 crore. On the other hand, Trio’s FamApp registred 113 million transactions worth Rs. 1,440 crore.

PhonePe continues to rely heavily on UPI for its business, with around 95 percent of its revenue coming from digital payments, as reported earlier this year. The platform has built its core offering around UPI, which remains central to its operations.