PhonePe And Google Pay Lead The UPI Race While Paytm Falls Behind As Per July Numbers

Total Unified Payments Interface (UPI) transactions made via Paytm marked a decline in July as per data released by National Payments Corporation of India (NPCI), Inc42 reports.

A total of 82.2 crore UPI transactions amounting to Rs 1.46 lakh crore were carried out in July. As per the report, PhonePe recorded the highest transaction volume which stood at 33.5 crore followed by Google Pay which recorded over 30 crore transactions.

Paytm on the other hand recorded a decline in its UPI numbers. While the payment wallet giant had recorded over 20 crore transactions in May, the number fell to less than 14 crore in July.

Paytm though has played down these numbers by claiming that it recorded a total of over 60 crore transactions in July - which includes other payment modes like wallets. As per reports, Paytm has claimed a 70 per cent market share in overall digital payments in offline and online modes.