WhatsApp Pay has edged past CRED in monthly Unified Payments Interface (UPI) transaction volumes for the first time, highlighting the competition in India’s digital payments market.
While the development does not alter the dominance of the sector’s biggest players, it signals that WhatsApp’s payments ambitions are beginning to gain traction after years of regulatory constraints and slow adoption.
The shift in rankings coincided with a leadership change at CRED.
During the month, founder Kunal Shah left the fintech company to become WhatsApp’s global CEO, with Miten Sampat taking charge as CRED’s interim chief.
According to the National Payments Corporation of India (NPCI), WhatsApp Pay processed 150.48 million transactions in June, ahead of CRED’s 141.78 million.
