<p>Bengaluru-based digital payments company, PhonePe, consolidated its top position with a market share of 46.7% of the aggregate value of UPI payments made during the April-September 2021 period (H1FY22) while Google Pay’s share fell to an average of 37.6% in the same period - H1FY22, a 670-basis-point drop from 44.3% during April-September 2020.</p>.<p>With around 44% of all the UPI payments taking place on Google Pay in H1FY21, the digital wallet platform was leading in terms of market share by 2-3 percentage points above the second-placed PhonePe, according to National Payments Corporation of India’s (NPCI) data.</p>.<p>However, PhonePe with a 44.3% market share overtook Google Pay as India’s most-used digital payment platform, during October 2020-March 2021 (H2FY21), going past Google Pay’s 41.25% market share.</p>.<p>PhonePe and Google Pay accounted for 84.3% of the total value of all UPI payments in H1FY22, down 1.6 percentage points in H1FY21. The value of UPI payments made during H1FY22 by PhonePe and Google Pay stood at Rs 29.37 lakh crore, 2.2 times the value of UPI payments by both in H1FY21 (Rs 13.33 lakh crore).</p>.<p>The total value of UPI payments made across all digital platforms during September 2021 stood at Rs 6.64 lakh crore, two times the value of UPI payments made during September 2020 (Rs 3.29 lakh crore), as per the National Payments Corporation of India’s (NPCI)<br />data.</p>.<p>Besides PhonePe, Paytm Payments Bank also registered decent gains in terms of market share in the first half of this fiscal over the corresponding period last year. Paytm Payments Bank’s market share in UPI payments averaged at 8.6% for April-September 2021, while the same stood at 7.25% for April-September 2020.</p>.<p>Cred, a fintech company, riding on its entry into the coveted unicorn list, tripled its market share to 1.26% in H1FY22 from a meagre 0.42% in H1FY21.</p>.<p>Among losers, BHIM saw its market share halve from 2.55% in H1FY21 to 1.27% in H1FY22.</p>.<p>The number of banks that are live on UPI as of September 2021 stood at 259, which recorded 3,654.30 million transactions in September 2021, while the 249 banks that were live as of August 2021 recorded 3,555.55 million UPI transactions last month.</p>.<p>Barring the top three market leaders -- PhonePe, Google Pay and Paytm Payments Bank -- the rest of the 256 banks that are live on UPI only accounted for 7% of the total value of all UPI payments made in September 2021.</p>.<p><strong>Check out the latest DH videos:</strong></p>
<p>Bengaluru-based digital payments company, PhonePe, consolidated its top position with a market share of 46.7% of the aggregate value of UPI payments made during the April-September 2021 period (H1FY22) while Google Pay’s share fell to an average of 37.6% in the same period - H1FY22, a 670-basis-point drop from 44.3% during April-September 2020.</p>.<p>With around 44% of all the UPI payments taking place on Google Pay in H1FY21, the digital wallet platform was leading in terms of market share by 2-3 percentage points above the second-placed PhonePe, according to National Payments Corporation of India’s (NPCI) data.</p>.<p>However, PhonePe with a 44.3% market share overtook Google Pay as India’s most-used digital payment platform, during October 2020-March 2021 (H2FY21), going past Google Pay’s 41.25% market share.</p>.<p>PhonePe and Google Pay accounted for 84.3% of the total value of all UPI payments in H1FY22, down 1.6 percentage points in H1FY21. The value of UPI payments made during H1FY22 by PhonePe and Google Pay stood at Rs 29.37 lakh crore, 2.2 times the value of UPI payments by both in H1FY21 (Rs 13.33 lakh crore).</p>.<p>The total value of UPI payments made across all digital platforms during September 2021 stood at Rs 6.64 lakh crore, two times the value of UPI payments made during September 2020 (Rs 3.29 lakh crore), as per the National Payments Corporation of India’s (NPCI)<br />data.</p>.<p>Besides PhonePe, Paytm Payments Bank also registered decent gains in terms of market share in the first half of this fiscal over the corresponding period last year. Paytm Payments Bank’s market share in UPI payments averaged at 8.6% for April-September 2021, while the same stood at 7.25% for April-September 2020.</p>.<p>Cred, a fintech company, riding on its entry into the coveted unicorn list, tripled its market share to 1.26% in H1FY22 from a meagre 0.42% in H1FY21.</p>.<p>Among losers, BHIM saw its market share halve from 2.55% in H1FY21 to 1.27% in H1FY22.</p>.<p>The number of banks that are live on UPI as of September 2021 stood at 259, which recorded 3,654.30 million transactions in September 2021, while the 249 banks that were live as of August 2021 recorded 3,555.55 million UPI transactions last month.</p>.<p>Barring the top three market leaders -- PhonePe, Google Pay and Paytm Payments Bank -- the rest of the 256 banks that are live on UPI only accounted for 7% of the total value of all UPI payments made in September 2021.</p>.<p><strong>Check out the latest DH videos:</strong></p>
