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HomeNewsBusinessPersonal FinanceRuPay takes pole position in debit cards; PhonePe, GPay lead in UPI transactions: Report
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RuPay takes pole position in debit cards; PhonePe, GPay lead in UPI transactions: Report

Hiral Thanawala   •

According to a report by Fibonacci X, a venture platform, India’s RuPay network holds 69 percent of the debit card market as of CY23, while UPI transaction volumes grew 6.5 times between 2020 and 2023

The total transaction value via UPI in CY23 was Rs 182 lakh crore, reflecting a robust growth rate of 24.4 percent in P2M transactions and 75.6 percent in P2P transactions compared to the previous year.

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