UPI apps have become the backbone of digital payments in India, transforming how individuals and businesses transact every day. This article explains the UPI apps market share in India based on the latest NPCI data for December 2025. With billions of customer-initiated transactions processed monthly, UPI has created a highly competitive ecosystem where a few leading apps dominate volumes.
By analysing official NPCI statistics, this report highlights which UPI apps are leading the market, how transaction share is distributed, and what these trends reveal about the future of digital banking in India.
UPI Apps Market Share in India – December 2025
India’s UPI ecosystem processed over 20 billion customer-initiated transactions in December 2025 alone. However, the data clearly shows that usage is heavily concentrated among a handful of platforms.
UPI market concentration snapshot:
- Top 2 UPI apps account for around 81% of total transactions
- Top 3 apps together cross 89% market share
- Top 9 apps control nearly 96% of UPI volumes
- All remaining apps together contribute about 4%
Source: NPCI – UPI Ecosystem Statistics (December 2025)
Who Is Leading the UPI Market in India?
The table below shows the leading UPI apps in India based on customer-initiated transaction volumes for December 2025.
UPI App Leaderboard – December 2025
| Rank | UPI App | Transactions (Mn) | Market Share |
|---|---|---|---|
| 1 | PhonePe | 9,809.97 | ~45.9% |
| 2 | Google Pay | 7,496.48 | ~35.1% |
| 3 | Paytm | 1,654.69 | ~7.7% |
| 4 | Navi | 678.28 | ~3.2% |
| 5 | super.money | 287.05 | ~1.3% |
| 6 | FamApp by Trio | 159.05 | ~0.74% |
| 7 | BHIM | 158.46 | ~0.74% |
| 8 | CRED | 157.25 | ~0.74% |
| 9 | Axis Bank UPI Apps | 148.26 | ~0.69% |
The UPI apps market share in India clearly shows a winner-dominant structure, with the top two apps alone controlling more than four-fifths of total UPI transactions.
PhonePe and Google Pay: The UPI Powerhouses
PhonePe – India’s Largest UPI App
| Metric | Value |
| Transactions (Mn) | 9,809.97 |
| Market Share | ~45.9% |
PhonePe continues to lead the UPI ecosystem by a wide margin. Its dominance is driven by extensive merchant acceptance, consistent transaction success rates, and a user-friendly interface that works seamlessly across urban and rural India.
Google Pay – Strong and Stable No. 2
| Metric | Value |
| Transactions (Mn) | 7,496.48 |
| Market Share | ~35.1% |
Google Pay maintains its second position due to strong brand trust, deep Android integration, and reliable payment performance.
Together, PhonePe and Google Pay account for over 80% of all UPI transactions in India.
Other Major UPI Apps by Market Share
Paytm – A Key Player Despite Challenges
| Metric | Value |
| Transactions (Mn) | 1,654.69 |
| Market Share | ~7.7% |
Paytm remains a significant UPI player, especially in merchant payments and QR-based transactions, despite facing regulatory and operational challenges in recent years.
Navi – Growing Presence in Digital Banking
| Metric | Value |
| Transactions (Mn) | 678.28 |
| Market Share | ~3.2% |
Navi’s growth highlights how focused fintech platforms can still expand in a market dominated by large players.
super.money – Niche but Rising
| Metric | Value |
| Transactions (Mn) | 287.05 |
| Market Share | ~1.3% |
super.money is steadily increasing its presence by targeting specific user segments within the UPI ecosystem.
Smaller but Notable UPI Apps
FamApp by Trio
| Metric | Value |
| Transactions (Mn) | 159.05 |
| Market Share | ~0.74% |
FamApp focuses on younger users and highlights the growing adoption of UPI among first-time digital banking customers.
BHIM – NPCI’s Own UPI App
| Metric | Value |
| Transactions (Mn) | 158.46 |
| Market Share | ~0.74% |
BHIM continues to serve as a foundational application in the UPI ecosystem, though its front-end market share remains limited.
CRED – Premium-Focused Usage
| Metric | Value |
| Transactions (Mn) | 157.25 |
| Market Share | ~0.74% |
CRED caters mainly to a premium user base, focusing on rewards and financial management rather than transaction volume alone.
Axis Bank UPI Apps – Bank-Led Participation
| Metric | Value |
| Transactions (Mn) | 148.26 |
| Market Share | ~0.69% |
Axis Bank represents the strongest bank-led presence among the top UPI apps in India.
Other UPI Apps – Combined Market Share
Several UPI apps operate outside the top nine, including WhatsApp Pay, Amazon Pay, SBI YONO, ICICI iMobile, HDFC PayZapp, and other bank-led platforms.
| Category | Details |
| Combined Market Share | ~4% |
| Role | Competition, innovation, and user choice |
Although individually small, these apps collectively strengthen the UPI ecosystem and ensure healthy competition.
What This Means for Digital Banking Users
- Fintech apps dominate front-end UPI usage in India
- Banks remain critical as backend infrastructure providers
- User experience and reliability drive adoption more than legacy branding
- NPCI’s UPI framework continues to scale efficiently
Conclusion
The UPI apps market share in India for December 2025, based on NPCI data, reflects a mature yet highly concentrated digital payments ecosystem. While PhonePe and Google Pay dominate transaction volumes, other fintech and bank-led apps continue to play important supporting roles.
As UPI adoption continues to grow, innovation, competition, and system reliability will shape the next phase of India’s digital banking journey.
Source: NPCI – UPI Ecosystem Statistics (December 2025)
Data compiled from publicly available NPCI UPI app-wise transaction statistics.
