Highlights
WhatsApp Surpasses CRED in UPI Transactions
WhatsApp now leads CRED in Unified Payments Interface (UPI) transaction volume, processing 150.48 million transactions in June, in contrast to CRED’s 141.78 million, based on figures from the National Payments Corporation of India (NPCI). This notable shift occurred during the same month that CRED’s founder, Kunal Shah, transitioned to become the global CEO of WhatsApp. Miten Sampat has stepped in as interim CEO at CRED following Shah’s departure.
Transaction Volumes in June
In May, CRED had a stronger performance, with 157 million UPI transactions, outmatching WhatsApp’s slightly over 150 million transactions. Despite falling behind in volume during June, CRED processed transactions amounting to Rs 55,117 crore, which accounted for 1.91% of the total UPI transaction value. WhatsApp’s transaction value was Rs 11,392 crore, holding a modest 0.39% share of the total.
PhonePe Maintains Leading Position
Meanwhile, PhonePe, a digital payments platform backed by Walmart, continued to dominate the UPI landscape, handling 10.48 billion transactions in June, slightly down from 10.73 billion in May. This marked the fourth consecutive month PhonePe processed over 10 billion UPI transactions, first achieving this milestone in March 2026.
Overall UPI Transactions
In June, the UPI system recorded a total of 22.72 billion transactions, a decrease from 23.2 billion in May. The overall transaction value also fell, from Rs 29.90 lakh crore to Rs 28.92 lakh crore in the same period. PhonePe led the UPI transaction volume with a 46.15% share and maintained a 49.07% share by value after processing Rs 14.19 lakh crore in transactions.
Google Pay held the second position with 7.41 billion transactions in June, equating to a 32.61% market share by volume. In terms of transaction value, its share was 33.44%, representing Rs 9.67 lakh crore in transactions. Paytm occupied the third spot in the UPI space, processing 1.80 billion transactions and capturing a 7.92% market share by volume and 6.66% by value, equating to transactions worth Rs 1.93 lakh crore.
Emerging Players in UPI
Other notable players included Navi, which recorded 842.51 million transactions in June, an increase from over 824 million in May, achieving a 3.71% share by volume. Flipkart-backed super.money processed 430.24 million transactions while BHIM witnessed 223.54 million transactions in the same month.
Additional Contributions
FamApp by Trio recorded 195.31 million transactions, and applications from Axis Bank contributed a total of 136.16 million transactions across various payment types, including customer-initiated, B2C, and B2B payments.
Together, PhonePe and Google Pay accounted for 78.76% of the UPI transaction volume and 82.51% of the transaction value in June. The two platforms remain considerably ahead of other participants in India’s UPI ecosystem.