December marks a new high for UPI transactions; PhonePe beats Google Pay

Unified Payment Interface (UPI) transactions have been rising consistently, making a new high every month for the past six months. The trend holds for the number of transactions (volume) and for the transacted amount (value). According to the data laid out by the National Payments Corporation of India, which owns and operates the UPI, December UPI volumes reached a fresh high of Rs 2,234.16 million, and the value of transactions was Rs 4,16,176 crore.

PhonePe beat Google Pay to emerge on top among UPI apps in December with 902.03 million transactions worth Rs 1.82 lakh crore.
In the second spot, Google Pay saw 854.49 million transactions worth Rs 1.76 lakh crore, data from the National Payments Corporation of India shshowed.
In third spot was Paytm with 256.36 million transactions worth Rs 31,291.83 crore in December, while new entrant WhatsApp clocked 810,000 transactions worth Rs 29.72 crcrore.