New Delhi: Paytm experienced a decline in UPI transactions, marking a 9 percent dip in April compared to previous months, According to data released by the National Payments Corporation of India (NPCI).

The figures revealed a dip from 1,230.04 million transactions in March to 1,117.13 million transactions in April, signaling the third consecutive month of decline.

Paytm counterparts PhonePe and Google Pay maintained their dominance, collectively commanding 86.6 percent market share. Paytm's market share dwindled to 8.4 percent, reflecting the repercussions of the decreased transaction volume. However, Paytm managed to retain its position as the third-largest UPI player.

The sudden downturn in Paytm's transaction volume has sparked discussions and raised concerns within the industry and among stakeholders. Analysts are closely scrutinizing the reasons behind this decline and its potential implications for Paytm's market position and overall performance in the coming months.

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