PhonePe topples GPay as top digital payment platform

Bengaluru-based digital payments company, PhonePe, consolidated its top position with a market share of 46.7% of the aggregate value of UPI payments made during the April-September 2021 period (H1FY22) while Google Pay’s share fell to an average of 37.6% in the same period – H1FY22, a 670-basis-point drop from 44.3% during April-September 2020.

With around 44% of all the UPI payments taking place on Google Pay in H1FY21, the digital wallet platform was leading in terms of market share by 2-3 percentage points above the second-placed PhonePe, according to National Payments Corporation of India’s (NPCI) data.