Which UPI app do you rely on most for your everyday payments? And does the app you use actually lead India’s UPI market?
With UPI handling billions of transactions every month, the competition among payment apps is getting harder to ignore. But the numbers may surprise you when you look beyond brand familiarity.
The latest NPCI data for July offers a closer look at how India’s biggest UPI platforms performed, revealing a clear gap between the leaders and the apps fighting for the positions below them. If you’re searching for the Top 5 UPI Apps in India, transaction volume is one of the easiest ways to see which platforms are handling the most payments.
But there’s more to the ranking than simply counting transactions. Transaction value tells another part of the story, and some apps perform very differently when you compare the two.
Read on to see the complete ranking, July figures, market shares and what the numbers reveal about India’s UPI market.
Top 5 UPI Apps in India
The July ranking is based on UPI transaction volume reported in the supplied NPCI data.
- PhonePe: 10.86 billion transactions
- Google Pay: 7.65 billion transactions
- Paytm: 1.90 billion transactions
- Navi: 947.08 million transactions
- super.money: 437.27 million transactions
Together, these five platforms handled a substantial portion of India’s UPI activity, with PhonePe and Google Pay accounting for most of the market.
1. PhonePe
PhonePe remained the most used UPI app in India by transaction volume in July. The platform processed 10.86 billion transactions, giving it a 45.89% share of total UPI transaction volume.
Its transaction value was even larger in relative terms. PhonePe processed ₹14.44 lakh crore worth of UPI transactions in July, equivalent to a 48.33% share of total transaction value.
The July figure also marked an increase from June, when PhonePe recorded 10.48 billion transactions. That means the platform added roughly 380 million transactions over the month.
The difference between its volume and value shares is worth noting. PhonePe accounted for 45.89% of transactions but 48.33% of transaction value, indicating that its share of the money moved through UPI was higher than its share of the number of payments.
For the Top 5 UPI Apps in India, PhonePe currently sits comfortably at number one on both major measures provided in the July data.
2. Google Pay
Google Pay held the second position, recording 7.65 billion UPI transactions in July.
The platform accounted for 32.33% of India’s total UPI transaction volume and processed transactions worth ₹10.01 lakh crore. Its share of transaction value stood at 33.51%.
Google Pay also recorded growth compared with June, when it processed 7.41 billion transactions. The July figure represents an increase of about 240 million transactions.
The gap between Google Pay and PhonePe remains significant. PhonePe processed more than 10 billion transactions in July, while Google Pay crossed the 7.6 billion mark.
Still, Google Pay remains firmly ahead of the other apps in the ranking. Its 32.33% transaction-volume share means nearly one in every three UPI transactions in the supplied July data was processed through Google Pay.
3. Paytm
Paytm ranked third among the leading UPI apps in July, with 1.90 billion transactions.
The platform held an 8.05% share of UPI transaction volume and processed ₹2.05 lakh crore in transaction value. Its value share stood at 6.85%.
Paytm’s July transaction volume was higher than its June figure of 1.80 billion transactions, showing an increase of about 100 million transactions.
The numbers also highlight an important difference between Paytm and the two apps above it. PhonePe and Google Pay together accounted for 78.22% of India’s UPI transaction volume, while Paytm’s share was 8.05%.
Paytm’s transaction-value share was also lower than its transaction-volume share, at 6.85% compared with 8.05%. This shows why readers should look at both transaction volume and transaction value when comparing UPI apps.
4. Navi
Navi occupied the fourth position with 947.08 million UPI transactions in July.
The app accounted for around 4% of India’s UPI transaction volume and recorded a transaction value of ₹48,318 crore.
Navi also grew from June, when it recorded 842.51 million transactions. The July figure therefore represents an increase of more than 100 million transactions.
Although Navi’s transaction volume was significantly below Paytm’s 1.90 billion transactions, it remained ahead of the other apps that followed in the July ranking.
Its fourth-place position is particularly notable because the gap between the top three apps and the rest of the market becomes much wider after Paytm. Navi was the only app outside the top three to approach the one-billion monthly transaction mark in the supplied data.
5. super.money
super.money took the fifth position with 437.27 million UPI transactions in July.
The app recorded an increase from 430.24 million transactions in June, adding about 7 million transactions during the month.
The supplied source data does not provide super.money’s transaction-value figure or value share. Therefore, it would be inaccurate to estimate those figures based on its transaction volume.
The ranking is based on transaction volume, which puts super.money ahead of BHIM, FamApp by Trio and other apps listed below it in the July data.
How PhonePe and Google Pay Dominate India’s UPI Market?
The biggest takeaway from the July numbers is the scale of PhonePe and Google Pay’s combined position.
PhonePe accounted for 45.89% of UPI transaction volume, while Google Pay held 32.33%. Together, they represented 78.22% of India’s total UPI transaction volume.
Their dominance is even stronger when transaction value is considered. PhonePe had a 48.33% value share, while Google Pay had 33.51%. Combined, the two platforms accounted for 81.83% of total UPI transaction value.
This means more than three-quarters of UPI transactions and more than four-fifths of the money involved in those transactions passed through these two platforms in July.
The concentration becomes even clearer when Paytm is added. PhonePe, Google Pay and Paytm together accounted for 86.28% of UPI transaction volume and 88.68% of transaction value.
For the broader UPI market, these figures show how far ahead the largest platforms remain compared with the rest of the field.
What Happened to CRED and Other UPI Apps?
The top five ranking does not mean other UPI apps are inactive. Several platforms continued to process hundreds of millions of transactions in July.
BHIM recorded 242.27 million transactions, while FamApp by Trio processed 206.19 million. WhatsApp recorded 167.89 million transactions and processed ₹12,957 crore in transaction value.
CRED, meanwhile, recorded 142.10 million transactions and processed ₹59,279 crore worth of transactions. It slipped to 10th position from ninth in June based on transaction volume.
CRED’s numbers demonstrate why transaction volume and transaction value need to be considered separately. While its 142.10 million transactions were much lower than those of the top five apps, its transaction value of ₹59,279 crore was considerably higher than what its transaction count alone might suggest.
Axis Bank’s apps also recorded 143.77 million transactions, with a combined transaction value of ₹13,940 crore.
The figures do not necessarily indicate which app offers the best experience or features. They simply show how much UPI activity each platform processed during the month.
Which Is the Most Used UPI App in India?
PhonePe is the most used UPI app in India based on July transaction volume in the supplied NPCI data.
It processed 10.86 billion transactions, giving it a 45.89% share of India’s total UPI transaction volume. It also led by transaction value, processing ₹14.44 lakh crore, equivalent to 48.33% of total UPI transaction value.
Google Pay was the second-largest app with 7.65 billion transactions, followed by Paytm with 1.90 billion.
It is important to distinguish between being the most used by transaction volume and being the “best” UPI app. The July data measures payment activity, not subjective factors such as app experience, features or customer preference.
Top UPI Apps in India: Key Takeaways
The July NPCI numbers show a UPI market heavily dominated by a few major platforms.
- PhonePe ranked first with 10.86 billion transactions and a 45.89% volume share.
- Google Pay ranked second with 7.65 billion transactions and a 32.33% volume share.
- Paytm ranked third with 1.90 billion transactions and an 8.05% volume share.
- Navi ranked fourth with 947.08 million transactions and around a 4% volume share.
- super.money ranked fifth with 437.27 million transactions.
- PhonePe and Google Pay together controlled 78.22% of UPI transaction volume and 81.83% of transaction value.
- PhonePe, Google Pay and Paytm together accounted for 86.28% of transaction volume and 88.68% of transaction value.
- CRED slipped from ninth to 10th place despite processing ₹59,279 crore in transaction value.
Overall, the July data makes one point particularly clear: PhonePe remains the leader among India’s UPI apps, while Google Pay continues to hold a strong second position. Paytm follows at a considerable distance, with Navi and super.money completing the top five by transaction volume.
FAQs
1. What are the Top 5 UPI Apps in India?
Based on July UPI transaction volume, the Top 5 UPI Apps in India are PhonePe, Google Pay, Paytm, Navi and super.money, in that order.
2. Which UPI app has the highest transaction volume in India?
PhonePe had the highest UPI transaction volume in July, with 10.86 billion transactions and a 45.89% volume share.
3. What is PhonePe’s UPI market share?
PhonePe had a 45.89% share of UPI transaction volume and a 48.33% share of transaction value in July, based on the supplied NPCI data.
4. Is Google Pay bigger than Paytm on UPI?
Yes. Google Pay processed 7.65 billion transactions in July, compared with 1.90 billion for Paytm. Google Pay had a 32.33% volume share, while Paytm had an 8.05% share.
5. Which position does CRED hold in India’s UPI market?
CRED ranked 10th in July, slipping from ninth in June. It recorded 142.10 million transactions worth ₹59,279 crore during the month.
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