India, May 28 -- IPO-bound PhonePe continued to lead the UPI market in April, processing more than 1,033 Cr transactions during the month.

According to NPCI data, the fintech giant processed transactions worth Rs.14.31 Lakh Cr in April 2026. While its transaction volume declined slightly from 1,050 Cr in March, its market share rose to 47.07% from 46.70% in the previous month.

Google Pay and Paytm continued to trail PhonePe in the UPI market in April, processing 735.9 Cr and 177.8 Cr transactions, respectively. Google Pay's market share saw a marginal rise to 33.54% in April from 33.51% in March, while Paytm saw a slight uptick to 8.10% from 7.87% in the previous month.

Together, PhonePe and Google Pay processed more than 80% of all UP...