PhonePe, Google Pay Lead UPI Race In May

PhonePe recorded 868.20 Cr transactions worth INR 12.56 Lakh Cr in May

Google Pay’s UPI transaction volume increased 4% month-on-month (MoM) to 674.04 Cr in the month under review

Both the fintech giants collectively hold nearly 85% of the UPI share market

Continuing the duopoly, PhonePe and Google Pay accounted for nearly 85% of the Unified Payment Interface (UPI) market share in May.

Walmart-backed PhonePe recorded 868.20 Cr transactions worth INR 12.56 Lakh Cr…