BHIM UPI transactions down at Rs 4.94 lakh crore in April

The digital transactions through BHIM UPI in April this year fell by 2.2 percent from a month ago to Rs 4.94 lakh crore, data from the NPCI showed on Saturday.

The total number of transactions stood at 2.64 billion during the month, down by 3.3 percent from 2.73 billion in March.

UPI had recorded 2.73 billion or 273 crore transactions which amount to Rs 5,04,886 crore in March. While the total transactions fell down in April, the daily transaction volume for UPI remained the same in the last two months with about 88 million transactions. 

PhonePe, Google Pay, and Paytm control the maximum market share (90%). PhonePe saw 1,199.51 million transactions in March followed by Google Pay’s 957.01 million, controlling 44% and 35% market share respectively.

The National Payments Corporation of India (NPCI) is an umbrella body of all retail payments systems in the country.

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