PhonePe claims to beat Paytm with 95 mn UPI transactions

Leaving Paytm and Google Tez behind, PhonePe has claimed the top spot on the UPI (Unified Payments Interface) network. The Flipkart-owned company, which works with Yes Bank for UPI, reached almost 95 million monthly transactions in July after Paytm claimed to process 94 million transactions in June. Catering over 300,000 merchants, PhonePe further claimed 40% share of the market.