August marks all-time high UPI transactions for PhonePe and Google Pay

India’s Unified Payments Interface (UPI) crossed 20 billion transactions in August 2025, marking its highest monthly volume ever. PhonePe continued to lead the digital payments market with 9.15 billion transactions, holding a 45.74% share by transaction volume (9.15 billion) and 48.26% by value (Rs 11.99 lakh crore).

According to NPCI data, Google Pay followed with a 35.30% share by transactions (7.06 billion) and a 35.55% share by value (Rs 8.83 lakh crore).

For the first time, PhonePe and Google Pay crossed the 9 billion and 7 billion monthly…