PhonePe Statistics By Market Share And Demographics (2026)

Introduction

PhonePe Statistics: PhonePe stands as India’s foremost digital payments and financial services platform, established in December 2015 and officially launched in 2016. Utilizing the Unified Payments Interface (UPI), it allows users to perform instant bank-to-bank transfers, pay utility bills, recharge, and shop both online and in physical stores. PhonePe continues to assert its position as a significant leader in the digital payments arena, transforming the manner in which Indians conduct transactions daily.

From local shops to e-commerce, PhonePe has not only broadened its presence but has also significantly impacted the digital payments landscape in India. The company’s intuitive interface, ongoing innovation, and strategic growth have positioned it as one of the most trusted payment platforms.

Let us explore the realm of PhonePe’s growth and its impact on the digital payment ecosystem.

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1. Almost 50% of the financial cybercrime incidents were associated with UPI payments and online banking.
2. Furthermore, as of March 2024, the number of transactions reached 772 crore (7.72 billion), reflecting a remarkable 158-fold increase over a span of six years.
3. In 2024, individuals aged 25 to 34 constituted the largest segment of users, representing 40%, which included young professionals utilizing PhonePe for various financial activities.
4. PhonePe recorded approximately 500 million registered users in 2024, and this number grew to 600 million by March 2025.
5. In 2025, 85 million new users joined PhonePe, further enhancing its attractiveness to digital consumers.
6. The payments network facilitated 22.35 billion transactions valued at Rs 29.03 lakh crore in April 2026.

General PhonePe Statistics

• PhonePe was established in 2015, with its flagship digital payments application launched in August 2016.
• As of 2024, PhonePe has approximately 500 million registered users, and this number is expected to reach 600 million by March 2025.
• By 2023, PhonePe had 200 million monthly active users.
• In 2019, PhonePe had 3 million offline merchants, which increased to over 40 million by March 2025.
• The number of transactions processed by PhonePe was 100 million per day in 2022, rising to over 330 million per day as of March 2025.
• In 2022, PhonePe’s monthly transactions were around 2.5 billion.
• The annual total payment value (TPV) or run rate for PhonePe was USD 780 billion in 2022, with an annualized TPV exceeding INR 150 lakh crore as of March 2025.
• PhonePe’s UPI market share by volume is anticipated to be 47.8%.
• The share of payment applications and wallets held by PhonePe in India was estimated at 33.4%.
• The average transaction size on PhonePe was ₹973.
• On average, PhonePe wallet refills per month were 1.86.
• The number of cities in India with PhonePe merchants reached 130.
• Flipkart is reported to have committed USD500 million in funding to PhonePe.
• The estimated valuation of PhonePe stands at USD5.5 billion.
• In 2023, PhonePe’s valuation was recorded at USD12 billion.
• In 2021, the number of employees at PhonePe was noted to be 2,500.

UPI Market Share Statistics

• The payments network facilitated 22.35 billion transactions valued at Rs 29.03 lakh crore in April 2026.
• On a year-over-year comparison, the transaction volume experienced a growth of 25%, while the value saw an increase of 21%.
• Daily, UPI recorded an average of 745 million transactions, with the average daily value reaching Rs 96,766 crore.
• This decrease follows a record-breaking March, during which UPI processed 22.64 billion transactions totaling Rs 29.53 lakh crore, marking the highest monthly volume and value for the platform to date.
• The month-on-month decline is minimal, particularly since April comprised 30 days compared to March’s 31 days.
• In February 2026, UPI managed 20.39 billion transactions worth Rs 26.84 lakh crore, before reaching unprecedented levels in March and experiencing a slight reduction in April.
• Regarding ecosystem participants, March was primarily led by PhonePe and Google Pay.
• PhonePe surpassed 10 billion transactions for the first time, capturing approximately 45% of the market share.
• Google Pay followed closely with around 7.5 billion dealings, holding roughly 33% of the market share, while Paytm managed nearly 1.7 billion transactions with a significantly smaller share.
• As of July 2024, Google Pay, Paytm, and PhonePe held market shares of 7.82%, 37%, and 48.3% by transaction volume, respectively.

(Reference: publive.online)

UPI Fraud Statistics

• In the financial year 2023, over 95,402 cases of UPI fraud were documented.
• The Indian administration reported 84,274 instances of UPI fraud for the year 2021- 2022 and 77,299 cases for 2020-2021.
• These statistics were published in the context of the increasing incidents of UPI-related fraud within the nation. The surge in these cases was primarily noted following the COVID-19 pandemic.
• Between January 2020 and June 2023, financial fraud constituted 75% of all cybercrimes in India.
• Approximately 50% of these financial cybercrime incidents were associated with UPI transactions and Internet banking.

PhonePe User Statistics

• As of September, the platform announced that it has surpassed 570 million registered users, reflecting a 14% increase since November 2023.
• By November 2023, PhonePe indicated that it had around 550 million registered users, which represents a 20.5% growth compared to 2022.
• Additionally, in prior years, PhonePe’s registered user count and year-over-year growth rates were 415 million (18.6%) in 2022, 350 million (16.7%) in 2021, and 300 million in 2020.

PhonePe User Growth Statistics

• In 2025, PhonePe welcomed 85 million new users, further enhancing its attractiveness to digital consumers.
• The user retention rate increased to 76%, reflecting a growing level of trust and dependence.
• The average transaction frequency per user saw a year-over-year growth of 28%.
• 42% of PhonePe’s user base consists of females, contributing to improved gender diversity within the realm of digital finance.
• The peak usage periods continue to be from 9 AM to 12 PM and from 5 PM to 9 PM.
• 68% of users fall within the age range of 18 to 35, thereby dominating the young, digitally-oriented demographic.
• The customer satisfaction score has risen to 91%.
• As of early 2026, there are over 600 million registered users.

PhonePe Demographics Statistics

• In 2024, individuals aged 25 to 34 constituted the largest segment of users, representing 40%, which includes young professionals utilizing PhonePe for various financial transactions.
• Similarly, the distribution of PhonePe users by age group is reported as 30% for those aged 18 to 24 years, 20% for the 35 to 44 years group, and 10% for individuals aged 45 years and older.
• PhonePe Statistics further indicate that approximately 90% of its users are Indian, highlighting its popularity within India. The remaining 10% are users from outside India.
• In terms of income demographics, 50% of users have an annual income ranging from USD 5,000 to 20,000.
• Additionally, the income distribution among PhonePe users shows that 30% earn over USD 20,000, while 20% earn less than USD 5,000.

PhonePe Website Users Demographics Statistics

• In December 2024, male and female users of phonepe.com represented 72.2% and 27.8%, respectively.
• According to age demographics, PhonePe Statistics indicates that the largest group of website users is between the ages of 25 and 34, comprising 37.29%.
• Additionally, 39% of PhonePe website users fall within the 18 to 24 age range.
• Conversely, users aged 35 to 44 years and 45 to 54 years account for 15.31% and 10.42%, respectively.
• Approximately 8.89% of website users are between the ages of 55 and 64.
• Users aged 65 years and older contribute only 6.71% of the total shares on phonepe.com.

(Reference: coolest-gadgets.com)

PhonePe Website Users By Device Statistics

• According to PhonePe Statistics from September 2024, approximately 95% of the visit share was derived from mobile devices, while 15.05% originated from desktops on phonepe.com.
• In line with Semrush analyses, the website recorded 24.42 million visits during the same period, with an average session duration of 6 minutes and 03 seconds, reflecting a 4.03% increase compared to August.
• Users from com constitute about 96.9% of the Indian user demographic, totaling 23.67 million. Among these users, 13.79% utilize the desktop version, whereas 86.21% access the site via mobile devices.

PhonePe Transaction Statistics

• As of June 2024, PhonePe processed approximately 270 million transactions daily, while in December 2023, it recorded an average of over 220 million daily transactions.
• Furthermore, by March 2024, the total transactions amounted to 772 crore (7.72 billion), reflecting a remarkable 158-fold increase over a span of six years.
• PhonePe’s annual payment value stands at USD 1.6 trillion, underscoring its significant contribution to digital payments, an increase from an annualized TPV of USD 1.4 trillion.

PhonePe Recent Development Statistics

• In May 2022, PhonePe completed the acquisition of WealthDesk and OpenQ in a transaction valued at approximately USD75 million, thereby entering the wealth management sector. According to reports, WealthDesk was acquired for around USD50 million, while OpenQ was purchased for about USD25 million.
• In January 2025, PhonePe introduced quick commerce services.
• PhonePe made significant investments in marketing to promote the adoption of Share. Market. Nevertheless, it has faced challenges in gaining traction within a market largely dominated by Groww, Zerodha, and Angel One, managing to secure a position within the top 20 stockbroking platforms with a mere 0.5% market share as of February 2026.

Conclusion

PhonePe’s evolution from a basic payment platform to a full-fledged financial services provider highlights its crucial contribution to India’s digital economy. As it expands in user base, transaction volume, and service offerings, PhonePe is not only reshaping the payments landscape but also promoting financial inclusion throughout the nation.

By adopting technology and emphasizing security, PhonePe has positioned itself as a reliable and innovative leader in the digital payments industry. With its ambitious plans for further growth and improvements, PhonePe is strategically poised to guide India towards a digital-first financial future.

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