Sachin Bansal’s Navi Overtakes Amazon Pay To Become Sixth Largest UPI Player

Sachin Bansal’s Navi Overtakes Amazon Pay To Become Sixth Largest UPI Player

SUMMARY

Navi's customer-initiated transactions surged to 88.71 Mn in August from 68.47 Mn in the preceding month

With this, the fintech unicorn has surpassed digital payment platform Amazon Pay UPI, which posted 70.72 Mn transactions in August

Besides, Walmart-owned PhonePe continues to lead the UPI race with 7.2 Bn transactions and Google Pay securing second position with 5.5 Bn transactions

Amid plans on the pipeline to grow its digital personal loans business and expand operations, fintech unicorn Navi has strengthened its lending play, becoming India’s sixth largest company on the Unified Payment Interface (UPI), with its customer-initiated transactions surging to 88.71 Mn in August from 68.47 Mn in the preceding month.

As per National Payment Corporation of India’s (NPCI) data, the value of Navi’s UPI transactions stood at INR 4,651.32 Cr.

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