PhonePe is the biggest UPI app, with 10.91 billion transactions or 45.57% of UPI app volume in September 2026, according to NPCI's UPI Applications data. Google Pay was second with 7.71 billion (32.23%) and Paytm third with 1.94 billion (8.1%). Together PhonePe and Google Pay handled 77.8% of transactions, down from 81.9% in September 2025.
Source · NPCI, figure for September 2026 · checked
Shares of the 23.93 billion transactions made through NPCI-listed UPI apps in September 2026, not of all 24.07 billion UPI transactions. Measured against all UPI transactions, PhonePe's share is slightly lower.
| Measure | Figure | Source |
|---|---|---|
| PhonePe, September 2026 | 10.91 billion (45.57%) | NPCI via MediaNama, Sep 2026 |
| Google Pay, September 2026 | 7.71 billion (32.23%) | NPCI via MediaNama, Sep 2026 |
| Paytm, September 2026 | 1.94 billion (8.1%) | NPCI via MediaNama, Sep 2026 |
| Navi, September 2026 | 1.14 billion | NPCI via MediaNama, Sep 2026 |
| PhonePe + Google Pay, September 2025 | 81.9% | NPCI via MediaNama, Sep 2025 |
Major Unified Payments Interface (UPI) apps PhonePe and Google Pay together accounted for 77.8% of UPI transactions in September 2026, noticeably down from their market share of 78.3% in the previous month, reveals the National Payments Corporation of India’s (NPCI) UPI Applications data. While PhonePe processed 10.91 billion transactions which makes 45.57% of the UPI market share, Google Pay processed 7.71 billion transactions, occupying a market share of 32.23%. The listed-app shares use 23.93 billion transactions through NPCI-listed apps as their denominator, rather than the 24.07 billion transactions across UPI in NPCI’s UPI data.
Their combined share was 81.9% in September 2025. Over the year, Google Pay’s share fell by 3.2 percentage points from 35.43% and PhonePe’s by 0.9 percentage points from 46.47%. Other apps gained ground: Paytm remained third in September with 1.94 billion transactions, or 8.1% of listed-app volume. Navi was fourth at 1.14 billion, up from 1.08 billion in August, followed by super.money at 405.1 million transactions. Both PhonePe and Google Pay’s September shares were above the 30% level in NPCI’s volume-cap circular-in-UPI for third-party app providers. That circular extended the compliance deadline for existing providers to December 31, 2026.
App Share of Transaction Volume (August 2026) Share of Transaction Value (August 2026) PhonePe 45.64% 47.82% Google Pay 32.26% 33.78% Paytm 8.03% 6.87% PhonePe retained its lead in August, followed by Google Pay and Paytm. Together, the three apps accounted for 85.93% of UPI transaction volume.
45.57% of UPI app transactions in September 2026 (10.91 billion), per NPCI data.
32.23% in September 2026, with 7.71 billion transactions, down from 35.43% a year earlier.
Paytm was third in September 2026 with 1.94 billion transactions (8.1%), then Navi with 1.14 billion and super.money with 405.1 million.
This figure is from NPCI's own release or a report quoting it. We recheck it monthly. If you have a newer or better source, send it to us.
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