Paytm leads in UPI usage, Google Pay & PhonePe follow

ENGALURU: Paytm led in Unified Payments Interface (UPI) transactions in January, closely followed by Google Pay and PhonePe, according to people with knowledge of the matter. As UPI gains further ground, the field is turning competitive – Paytm clocked more than 221 million transactions, while Google Pay and PhonePe were at about 220 million each, said the people cited above. PhonePe, however, told ET across all payment modes it had 225 million transactions worth Rs 30,000 crore in January.
While the National Payments Corporation of India (NPCI) issues overall UPI transaction numbers, ET has sourced the individual split of the top three largest payments players from multiple sources. Overall, UPI clocked around 672 million transactions last month, up from 620 million in December. Google Pay did not provide specific numbers and Paytm didn’t respond to queries.