PhonePe has captured over 50% of UPI transaction value and 48.36% of volume as of August 2024, according to NPCI. With 7.23 billion transactions worth ₹10.33 lakh crore, PhonePe leads competitors Google Pay (37.3% by volume) and Paytm (7.21% by volume) in India’s payments landscape.
By Vaishali Sharma
