Paytm nears old UPI run-rate as market share drops below 8%
Paytm approached its previous UPI run-rate with 1.52 billion transactions in October 2025, but its market share fell to 7.36%, down from 12.86% in January 2024. Rapid UPI growth and the dominance of PhonePe and Google Pay, which together now control over 80% of India’s UPI market, have constrained its recovery.