PhonePe and Google Pay's combined UPI share fell to 77.8% in September 2026

PhonePe and Google Pay together handled 77.8% of UPI transactions in September 2026, down from 78.3% a month earlier and 81.9% a year ago. PhonePe processed 10.91 billion transactions (45.57% share) and Google Pay 7.71 billion (32.23%). Both remain above NPCI's 30% cap, with compliance extended to December 31, 2026.

• PhonePe: 10.91 billion transactions, 45.57% share
• Google Pay: 7.71 billion transactions, 32.23% share
• Combined share was 81.9% a year earlier
• Paytm third with 1.94 billion transactions and 8.1% share