PhonePe and Google Pay's combined UPI share falls to 77.8% in Sept 2026

PhonePe's share of UPI fell 0.9 percentage points from 46.47%, while Google Pay's fell 3.2 points from 35.43%, over the year to September 2026. Their combined share now sits at 77.8%. Both remain above the NPCI's 30% volume cap, which applies to a single app's share of UPI transactions.

Source: MediaNama ↗