BHIM App Makes a Strong Comeback: UPI Transactions Jump 10x as NPCI Eyes Digital Gold, Credit, and More

India's homegrown UPI app, BHIM, is witnessing a remarkable revival. After losing significant market share to rivals like PhonePe and Google Pay over the past few years, the app has recorded a nearly 10-fold increase in monthly UPI transactions over the last two years.

The growth comes as the National Payments Corporation of India (NPCI) prepares to transform BHIM from a payments app into a broader financial services platform.

BHIM's UPI Transactions Surge

According to NPCI data:

• June 2024: 23 million UPI transactions

• June 2026: 224 million UPI transactions

The total value of transactions also grew significantly: