Paytm Leads UPI

Paytm leads in UPI utilization: Google Pay & PhonePe follow closely

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Competition in digital payment industry gets tougher

Paytm, a digital wallet company leads in Unified Payments Interface (UPI) transactions. Paytm’s UPI transactions are closely followed by Google Pay which is a digital wallet platform and PhonePe, a financial technology company.

It is being reported that Paytm recorded more than 221 million transactions, while Google Pay and PhonePe were at about 220 million each. PhonePe said that across all payment modes, it had made 225 million transactions worth of Rs. 30,000 crore in last month. However, the report highlighted that even as the number of transactions has jumped, peer-to-peer (P2P) transactions still dominate. It is being speculated that nearly 100 to 120 million merchant transactions take place per month.

UPI transaction for different companies

Further, the average ticket size of a UPI transaction is about Rs 1600, and the number could be hovering around Rs 1907 for Paytm, Rs 1300 for PhonePe, and around Rs 1200 for Google Pay.
The National Payments Corporation of India (NPCI) issues overall UPI transaction numbers. UPI has recorded around 672 million transactions last month that are up by 620 million from the previous year. Google Pay did not provide specific numbers and Paytm didn’t respond to queries. 

Bharat Interface for Money (BHIM) UPI transactions

Bharat Interface for Money (BHIM) has been shedding steam over the last few months as extra transactions are flowing by way of personal nonbanking purposes. As per the latest numbers shared by NPCI, BHIM reported 14 million transactions in January which are down by 17 million from December 2018.


The average amount per transaction on BHIM stood at Rs 4,436. It’s been hovering in that range over the past three months. It is being reported that the amount of funds settled per BHIM transaction is still the highest in the industry. For that reason, people are using the application because they choose to and not because of incentives, which have dwindled. 



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