UPI has really changed the way Indians do payments. India’s UPI processed a record 14.04 billion transactions in May 2024, valued at Rs 20.45 lakh crore.
UPI Data 2024
| Month | No. of Banks live on UPI | Volume (in Mn) | Value (in Cr.) |
|---|---|---|---|
| May’24 | 598 | 14,035.84 | 20,44,937.05 |
| Apr’24 | 581 | 13,303.99 | 19,64,464.52 |
| Mar’24 | 572 | 13,440.00 | 19,78,353.23 |
| Feb’24 | 560 | 12,102.67 | 18,27,869.35 |
| Jan’24 | 550 | 12,203.02 | 18,41,083.97 |
UPI Apps (May’24)
There are a lot of apps in India that offer UPI payment services. But PhonePe has remained on top for quite a long time. In May 2024, PhonePe processed 6831.92 million UPI transactions.
| Sr.No. | Application Name | Total | |
| Volume (Mn) | Value (Cr) | ||
| 1 | PhonePe | 6831.92 | 1033588.80 |
| 2 | Google Pay | 5219.56 | 723315.70 |
| 3 | Paytm Payments Bank App | 1140.01 | 124704.80 |
| 4 | Cred | 140.08 | 47547.15 |
| 5 | Amazon Pay | 68.34 | 7419.41 |
| 6 | Axis Bank Apps | 64.08 | 5910.20 |
| 7 | ICICI Bank Apps | 52.10 | 28444.03 |
| 8 | FamApp by Trio | 50.10 | 630.89 |
| 9 | Kotak Mahindra Bank Apps | 43.41 | 6178.23 |
| 10 | 36.45 | 2938.72 | |
| 11 | HDFC Bank Apps | 35.43 | 8104.44 |
| 12 | Navi | 29.72 | 958.09 |
| 13 | BHIM | 23.43 | 8095.99 |
| 14 | Yes Bank Apps | 22.75 | 10971.64 |
| 15 | Airtel Payments Bank Apps | 17.29 | 1330.15 |
| 16 | Mobikwik | 11.12 | 2536.09 |
| 17 | Groww | 10.15 | 7086.12 |
| 18 | Bajaj Finserv | 9.55 | 1685.51 |
| 19 | Slice | 9.05 | 646.12 |
| 20 | State Bank of India Apps | 7.12 | 2494.20 |
| 21 | IDFC Bank Apps | 6.99 | 1690.27 |
| 22 | Samsung Pay | 6.56 | 547.28 |
| 23 | Jupiter | 6.07 | 769.10 |
| 24 | Federal Bank Apps | 5.95 | 811.83 |
| 25 | India Post Payments Bank Apps | 5.67 | 703.81 |
| 26 | Flipkart | 4.44 | 251.85 |
| 27 | Canara Bank Apps | 3.06 | 828.58 |
| 28 | Deutsche Bank Apps | 2.34 | 369.42 |
| 29 | RBL Bank Apps | 2.24 | 931.34 |
| 30 | Jio Payments Bank Apps | 2.02 | 170.98 |
| 31 | Punjab National Bank Apps | 1.74 | 444.50 |
| 32 | Timepay | 1.61 | 17.69 |
| 33 | Indian Bank Apps | 1.55 | 329.58 |
| 34 | OmniCard | 1.24 | 45.65 |
| 35 | Union Bank Apps | 1.19 | 505.24 |
| 36 | Bank of Baroda Apps | 1.02 | 463.85 |
| 37 | Central Bank of India Apps | 0.95 | 213.29 |
| 38 | AU Small Finance Bank Apps | 0.82 | 249.60 |
| 39 | DBS Digibank Apps | 0.48 | 193.09 |
| 40 | South Indian Bank Apps | 0.47 | 141.47 |
| 41 | Jammu and Kashmir Bank Apps | 0.43 | 64.02 |
| 42 | Fino Payments bank Apps | 0.38 | 53.86 |
| 43 | HSBC Bank Apps | 0.37 | 144.11 |
| 44 | IndusInd Bank Apps | 0.36 | 74.41 |
| 45 | Shriram One | 0.29 | 36.28 |
| 46 | Bank of India Apps | 0.21 | 81.09 |
| 47 | UCO Bank Apps | 0.20 | 65.61 |
| 48 | Kiwi | 0.18 | 36.03 |
| 49 | TataNeu | 0.18 | 25.10 |
| 50 | Standard Chartered Bank Apps | 0.16 | 114.42 |
| 51 | Digikhata | 0.16 | 52.29 |
| 52 | Karnataka Bank Apps | 0.16 | 30.00 |
| 53 | Indian Overseas Bank Apps | 0.12 | 34.43 |
| 54 | Dhani | 0.11 | 13.12 |
| 55 | Ultracash | 0.09 | 6.19 |
| 56 | Tamilnad Mercantile Bank Apps | 0.08 | 25.66 |
| 57 | Citi Bank Apps | 0.08 | 66.74 |
| 58 | City Union Bank Apps | 0.08 | 28.77 |
| 59 | NSDL Payments Bank Apps | 0.07 | 12.71 |
| 60 | IDBI Bank Apps | 0.07 | 27.32 |
| 61 | Aditya Birla Capital Digital | 0.05 | 1.84 |
| 62 | Karur Vysya Bank Apps | 0.05 | 20.63 |
| 63 | Bank of Maharashtra Apps | 0.05 | 10.49 |
| 64 | Niyo Global | 0.04 | 22.56 |
| 65 | MakeMyTrip | 0.04 | 18.12 |
| 66 | Equitas Small Finance Bank Apps | 0.04 | 25.35 |
| 67 | Punjab Sind Bank Apps | 0.03 | 12.97 |
| 68 | Other Apps | 1.29 | 148.93 |
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