PhonePe and Google Pay continue to dominate UPI based customer initiated transactions in October. The two apps together accounted for close to 80% of the total volume and value processed through the top 10 apps during the month.
PhonePe led the chart with 9,412.07 million (9.4 billion) transactions which gives it a market share of 45.47% by volume. In terms of value, it processed Rs 13,06,401.90 crore contributing 47.88% to the total value of Rs 27,27,790.68 crore.
Google Pay followed with 7,165.80 million (7.1 billion) transactions with a 34.62% share by volume. It processed Rs 9,54,186.10 crore in value which translates to a 34.98% share.
For context, UPI saw an all time high of 20.7 billion monthly transactions in October, surpassing its previous record of 20.1 billion in August.
Paytm was a distant third with 1,522.78 million (1.5 billion) transactions which gives it 7.36% share by volume. It processed Rs 1,67,177.27 crore in value or 6.13% of the total. Navi recorded 574.30 million transactions and a market share of 2.77% by volume while super money had 264.79 million transactions or 1.28%. While Navi saw a 9% increase in volume, Super.money recorded only a 3% increase in monthly transactions.
Among the smaller players, CRED processed 157.99 million transactions but contributed a relatively higher 2.29% share of the total value at Rs 62,438.03 crore. BHIM and Amazon Pay recorded 125.70 million and 94.32 million transactions respectively with less than 1% share each.
According to NPCI data, UPI spending in October was led by groceries and supermarkets with 3,273.16 million transactions worth Rs 76,073 crore. Fast food outlets saw 1,357.89 million transactions worth Rs 16,798 crore, while restaurants logged 1,190.63 million transactions valued at Rs 20,842 crore. Telecom services recorded 867.86 million transactions amounting to Rs 22,169 crore, and service stations saw 657.36 million transactions with a high outlay of Rs 38,072 crore, highlighting UPI’s dominance across essential and everyday spends.
Digital gold also emerged as a notable category, rising to 115.95 million transactions worth Rs 2,290.36 crore in October from 103.19 million transactions worth Rs 1,410 crore in September.