Meta-owned WhatsApp has achieved a significant milestone in India’s digital payments ecosystem by overtaking CRED in monthly UPI transaction volume for the first time. While the change does not affect the dominance of the country’s leading payment apps, it reflects WhatsApp’s growing acceptance as a UPI platform after years of gradual expansion.
Despite WhatsApp’s progress, PhonePe continued to lead the market comfortably, followed by Google Pay and Paytm.
WhatsApp Surpasses CRED In Monthly Transactions
According to the latest NPCI data for June, WhatsApp processed approximately 150.5 million UPI transactions, edging past CRED, which handled around 141.8 million transactions during the month.
Although WhatsApp recorded a higher number of transactions, CRED continued to process significantly higher transaction value, as its users typically make larger payments, particularly for credit card bill settlements and financial services.
PhonePe Continues To Dominate UPI Market
PhonePe retained its position as India’s largest UPI platform, processing more than 10.4 billion transactions during June. Google Pay remained the second-largest player with over 7.4 billion transactions, while Paytm secured the third position with nearly 1.8 billion transactions.
Together, PhonePe and Google Pay continued to account for the overwhelming majority of India’s UPI transaction volume, maintaining their leadership despite growing competition from smaller players.
Smaller Players Continue To Gain Ground
Apart from WhatsApp, platforms such as Navi and super.money also registered modest gains in market share during June. The gradual rise of these apps indicates increasing competition within India’s digital payments ecosystem, even though the market remains heavily concentrated among the top three players.
Industry observers believe that continued innovation, cashback offers and integration with broader digital services will help smaller players attract more users over time.
UPI Ecosystem Remains Strong
Overall UPI activity moderated slightly in June compared to May due to the shorter calendar month. However, daily transaction volumes reached a record high, highlighting the continued growth of digital payments across India.
UPI processed 22.72 billion transactions worth approximately ₹28.92 lakh crore during June, reinforcing its position as the country’s most widely used digital payment system.
Competition Expected To Intensify
WhatsApp’s progress demonstrates the advantage of integrating digital payments into one of India’s most widely used messaging platforms. As more users become comfortable making payments directly within chat applications, competition among UPI providers is expected to intensify.
At the same time, established leaders such as PhonePe and Google Pay continue investing in new financial services, merchant solutions and customer engagement features to strengthen their market positions.
Summary
WhatsApp has overtaken CRED in monthly UPI transaction volume for the first time, processing over 150 million transactions in June. While CRED continues to lead in transaction value, PhonePe remains India’s largest UPI platform, followed by Google Pay and Paytm. The latest figures highlight growing competition in the country’s rapidly expanding digital payments ecosystem.
