In the third quarter of 2024, PhonePe held around 48 percent share of unified payment interfaces (UPI) usage in India, followed by Google Pay with 37 percent. Leading fintech players have been key drivers of UPI adoption in India.
The integration of digital wallets with the UPI platform has significantly transformed the digital payments landscape in India. This integration allows wallet holders to pay any merchant with a QR code using their wallet balance. It has democratized digital payments by making them more accessible to a larger population, thus bringing more people into the formal banking system. This infrastructure has boosted digital transactions and contributed significantly to financial inclusion in the country.
Unified Payment Interface (UPI) usage across India in third quarter of 2024, by platform
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Demand Sage. (October 5, 2024). Unified Payment Interface (UPI) usage across India in third quarter of 2024, by platform [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1034443/india-upi-usage-by-platform/
Demand Sage. "Unified Payment Interface (UPI) usage across India in third quarter of 2024, by platform." Chart. October 5, 2024. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1034443/india-upi-usage-by-platform/
Demand Sage. (2024). Unified Payment Interface (UPI) usage across India in third quarter of 2024, by platform. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1034443/india-upi-usage-by-platform/
Demand Sage. "Unified Payment Interface (Upi) Usage across India in Third Quarter of 2024, by Platform." Statista, Statista Inc., 5 Oct 2024, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1034443/india-upi-usage-by-platform/
Demand Sage, Unified Payment Interface (UPI) usage across India in third quarter of 2024, by platform Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1034443/india-upi-usage-by-platform/ (last visited November 10, 2024)
Unified Payment Interface (UPI) usage across India in third quarter of 2024, by platform [Graph], Demand Sage, October 5, 2024. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1034443/india-upi-usage-by-platform/
