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 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 data.
  • PhonePe with a 44.3% market share overtook Google Pay as India’s most-used digital payment platform, during October 2020-March 2021, going past Google Pay’s 41.25% market share.
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