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PhonePe surges past 1000 crore UPI transactions in March as Google Pay and Paytm lose share
Economy
Published on 24 April 2026
Its IPO pause amid West Asia fallout is still paying off
PhonePe strengthened its lead in India’s UPI ecosystem in March, with transactions up 88% to 1,050 crore and overall UPI volume hitting record highs. NPCI data shows the month’s transaction value climbed to 29.53 lakh crore. Google Pay and Paytm saw slight market-share declines, while smaller players like Navi and super.money gained modest ground. Regulatory moves on PPIs and new UPI use cases also loom.
- PhonePe processed 1,050 crore UPI transactions in March, up 88% month-on-month
- Total UPI transactions hit an all-time high of 2,264 crore with value at 29.53 lakh crore
- Google Pay and Paytm lost market share slightly as smaller players gained
- RBI draft PPIs framework and UPI expansion plans are set to reshape wallets
Read the full story at Inc42
This summarization was done by Beige for a story published on 
Inc42