{"id":13691,"date":"2025-04-12T12:08:09","date_gmt":"2025-04-12T12:08:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/13691\/"},"modified":"2025-04-12T12:08:09","modified_gmt":"2025-04-12T12:08:09","slug":"phonepe-widens-lead-over-g-pay-in-march-creds-upi-ranking-slips-to-7th","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/13691\/","title":{"rendered":"PhonePe widens lead over G-Pay in March; CRED\u2019s UPI ranking slips to 7th"},"content":{"rendered":"<p dir=\"ltr\">The Unified Payments Interface (UPI) recorded a 13.6% increase in volume in March, reaching <a href=\"https:\/\/entrackr.com\/news\/upi-transactions-surge-136-in-march-8912196\" target=\"_blank\" rel=\"noopener\">18.30 billion<\/a> transactions. While the top five UPI apps \u2014 PhonePe, Google Pay, Paytm, Navi, and Super.money \u2014 maintained their positions, CRED dropped to seventh place, overtaken by Axis Bank. <\/p>\n<p dir=\"ltr\">This follows a similar shift in February, when Super.money\u00a0<a href=\"https:\/\/entrackr.com\/news\/flipkarts-supermoney-pushes-cred-out-of-top-5-upi-app-in-feb-8850553\" target=\"_blank\" rel=\"noopener\">replaced<\/a> CRED in the top five rankings.<\/p>\n<p dir=\"ltr\">Axis Bank moved ahead of CRED after recording 125 million B2C transactions in March, according to NPCI data. In the UPI system, B2C (business-to-customer) transactions include payments like refunds, salaries, or cashback that businesses send to customers.<\/p>\n<p dir=\"ltr\">With a commanding 47.25% market share by transaction volume, PhonePe retained its top position by processing 8.64 billion transactions. Google Pay followed closely with 36.04%, handling 6.59 billion transactions. Together, the two giants controlled over 83% of the UPI transaction volume.<\/p>\n<p dir=\"ltr\">Paytm, the third largest player, contributed a 6.67% share (1.22 billion transactions).<\/p>\n<p dir=\"ltr\">In terms of transaction value, PhonePe again led with a 50.76% market share, handling over Rs 12.57 lakh crore, followed by Google Pay at 34.99% (Rs 8.66 lakh crore).<\/p>\n<p dir=\"ltr\">CRED, despite a modest volume share of 0.79%, emerged as a high-value player and contributed Rs 55,091.22 crore, or 2.22% of the total value. This reflects the firm\u2019s positioning among high-value users.<\/p>\n<p dir=\"ltr\">Other apps like Amazon Pay, ICICI Bank, and Axis Bank had a relatively minor presence in terms of both volume and value but still catered to specific user segments.<\/p>\n<p dir=\"ltr\">In a recent development, the Indian government <a href=\"https:\/\/entrackr.com\/news\/govt-approves-incentives-for-upi-payments-up-to-rs-2000-pci-chairman-fumes-8870436\" target=\"_blank\" rel=\"noopener\">approved<\/a> a new scheme with a budget of Rs 1,500 crore to encourage small merchants to use digital payments through the BHIM-UPI platform.<\/p>\n","protected":false},"excerpt":{"rendered":"The Unified Payments Interface (UPI) recorded a 13.6% increase in volume in March, reaching 18.30 billion transactions. While&hellip;\n","protected":false},"author":2,"featured_media":13692,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3159],"tags":[9011,547,9008,53,16,15,9300],"class_list":{"0":"post-13691","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-google-pay","9":"tag-mobile","10":"tag-phonepe","11":"tag-technology","12":"tag-uk","13":"tag-united-kingdom","14":"tag-upi"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114324917714178121","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/13691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=13691"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/13691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/13692"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=13691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=13691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=13691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}