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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…
