UPI In August: Navi’s Market Share Climbs To 4.4%, PhonePe & Google Pay Slip
Sachin Bansal-led Navi continued to gain ground in the UPI market in August, with its share of transaction volumes rising…
In August, Navi's market share in the UPI space rose to 4.4%, up from 4% in the previous month. The fintech company processed 1.08 billion UPI transactions worth ₹52,512.85 crore, surpassing July's figures. PhonePe and Google Pay, market leaders, experienced a slight decline in their market shares, with their combined share falling to 78.3% from 78.6%.
PhonePe processed 11.25 billion transactions worth ₹14.26 lakh crore, and its share dropped to 45.9%, while Google Pay's share declined to 32.4%. Paytm maintained its third position, with an 8.1% market share, processing 1.98 billion transactions worth ₹2.04 lakh crore. Flipkart's super.money saw its market share slip to 1.7%, processing 421.87 million transactions worth ₹20,363.26 crore.
Overall, UPI platforms processed a record 24.51 billion transactions in August, a 3.6% increase from July's 23.66 billion.
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