PhonePe increases lead over Google Pay with 42.5% UPI market share

As per data released by the National Payments Corporation of India (NPCI), PhonePe recorded 975.53 million transactions worth about ₹1.89 lakh crore in February, while 827.86 million transactions totalling ₹1.74 lakh crore were carried out on Google Pay. The Walmart-owned company that now has a 42.5% share of India's UPI market has beaten Google Pay for the third consecutive month.