In September, Navi entered the top 5 UPI apps, but PhonePe maintained its position

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In September 2024, the UPI ecosystem had a record-breaking 15 billion transactions, the highest since its introduction in April 2016

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CRED and Navi had 140 million and 120 million transactions, with values of Rs 47,982.71 crore and Rs 6,549.10 crore, respectively

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Navi saw a 35% rise in transaction volume and became one of the top five apps in September

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According to the National Payments Corporation of India (NPCI), PhonePe has processed 7.22 billion transactions worth Rs 10,30,871 crore, maintaining its market dominance

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Google Pay follows closely behind with 5.62 billion transactions totaling Rs 7,46,690.05 crore

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Paytm's transaction numbers were stable from August to September

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PhonePe presently holds 48% of the market share by volume, followed by Google Pay with 37.4% and Paytm with 7%

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PhonePe's transaction value share decreased below 50%, while Google Pay and Paytm's shares stayed unchanged at 36% and 5.5%, respectively

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The NPCI recently increased UPI transaction limits to Rs 5 lakh for specific types of payments

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