21 July 2025
PhonePe dominates India's UPI ecosystem with a market share of 47.2%, leaving rivals like Google Pay and Paytm scrambling to catch up. Its clean interface, support for regional languages, and deep merchant integration have made it the go-to app for both urban users and rural first-timers. In contrast, Paytm's decline — fueled by its complicated app design and the fallout from the 2023 regulatory crackdown on Paytm Payments Bank — has eroded its user trust and
market position. India's UPI network itself is booming, with 143 billion transactions in 2025, accounting for nearly half of global real-time payment volumes. NPCI expects daily UPI transactions to hit 1 billion by 2026—27.
PhonePe dominates India's UPI ecosystem with a market share of 47.2%, leaving rivals like Google Pay and Paytm scrambling to catch up. Its clean interface, support for regional languages, and deep merchant integration have made it the go-to app for both urban users and rural first-timers. In contrast, Paytm's decline — fueled by its complicated app design and the fallout from the 2023 regulatory crackdown on Paytm Payments Bank — has eroded its user trust and
market position. India's UPI network itself is booming, with 143 billion transactions in 2025, accounting for nearly half of global real-time payment volumes. NPCI expects daily UPI transactions to hit 1 billion by 2026—27.
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