PhonePe Clarifies Wallet Fees Pertaining Exclusively to Idle Balances
PhonePe clarified that inactive wallet fees won't impact linked bank accounts or UPI transactions.
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Tag: UPI
Record UPI Transactions Hit New Heights in May for PhonePe, GPay, and Paytm, While Digital Gold Sales Steady
PhonePe maintained its UPI dominance in May with 10.73B transactions, capturing 46.3% volume share.
Read moreDetailsUPI Soars to Over 23 Billion Monthly Transactions in May
UPI crossed 23 billion monthly transactions in May 2026, setting a new record for India’s payments network.
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PhonePe Achieves Milestone with 10 Billion UPI Transactions for Two Consecutive Months in April
Walmart-backed PhonePe processed over 10.33 billion UPI transactions in April, maintaining dominance.
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NPCI Introduces New MCC for UPI Gift Cards with Transaction Cap of Rs 10,000
The NPCI directs reclassification of gift card transactions under a new Merchant Category Code MCC 7016.
Read moreDetails“UPI Surpasses 22 Billion Transactions for Two Consecutive Months in April”
UPI recorded a slight decline in April 2026, processing 22.35 billion transactions worth Rs 29.03 lakh crore.
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“Digital Gold Sees Unprecedented Surge: UPI Transactions Soar to 254 Million in March”
Digital gold purchases through UPI remained strong in March 2026, with transactions hitting 254.44 million.
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RBI Suggests One-Hour Hold on UPI and IMPS Transactions Exceeding ₹10,000
The Reserve Bank of India plans a one-hour wait for digital payments over Rs 10,000 to curb fraud.
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“BHIM Soars from 15th to 6th Place with a Remarkable 4.7X Year-on-Year Volume Surge”
BHIM has surged with 4.7X growth in transactions, reaching 175.93M in Feb 2026, climbing to 6th among UPI apps.
Read moreDetailsPhonePe Dominates UPI Transactions with Impressive 45% Market Share in February
PhonePe dominated India's UPI ecosystem with 9.28 billion transactions worth Rs 13,10,392.95 crore.
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