The present study examines the growth, current trends, forecast analysis, and comparative performance of major Unified Payments Interface (UPI) platforms in India, namely PhonePe, Google Pay, and BHIM. The study is based on secondary data collected from publicly available reports, UPI transaction statistics, and digital payment records covering the period from 2021 to 2025. The primary objective is to analyze transaction volume, transaction value, market share, and user preference among the selected UPI platforms. The findings indicate that UPI has become the most preferred digital payment system in India due to its convenience, speed, security, and accessibility. Among the platforms studied, PhonePe emerged as the leading UPI application in terms of transaction volume and transaction value, followed by Google Pay, while BHIM maintained a comparatively smaller but steadily growing market presence. The study also incorporates forecast analysis for the period 2026–2030, which suggests continued growth in digital payment transactions across all three platforms. The projected increase is attributed to rising smartphone penetration, improved internet connectivity, technological innovations, and government initiatives promoting a cashless economy. Furthermore, a One-Way Analysis of Variance (ANOVA) was conducted to examine differences in transaction volume and transaction value among the selected platforms. The results revealed statistically significant differences, indicating that the performance of PhonePe, Google Pay, and BHIM varies considerably. The study concludes that the UPI ecosystem will continue to expand and play a vital role in enhancing financial inclusion, promoting digital transactions, and supporting India's digital transformation. The findings provide valuable insights into the competitive dynamics and future prospects of India's rapidly growing digital payment industry.