PhonePe’s hold over UPI tightens with 50% share

PhonePe, the Walmart-owned fintech, has captured nearly 50% of the market share in UPI transactions in terms of value. It now accounts for 47.2% of UPI transactions in terms of volume. With banks not making money on UPI transactions, third-party apps like PhonePe, Google Pay, and Paytm dominate the space, accounting for nearly 95.7% of customer-initiated transactions.