Walmart's PhonePe leads UPI payments, crosses 1 bn transactions in March

Walmart-owned PhonePe has crossed a billion UPI (unified payments interface) transactions, giving the digital payments firm further lead over its competitors such as Paytm, Google Pay and Amazon Pay. The Bengaluru-based firm said the total transactions for last month across UPI, cards and wallet were 1.3 billion in March.

The development comes at a time when UPI has broken a new record, crossing Rs 5 trillion in value in March across 2.73 billion transactions, according to the National Payments Corporation of India (NPCI), which tweeted the data on Thursday. In March, the value was Rs 4.25 trillion for 2.29 billion