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India Again Delays Rules To Break Payments Duopoly
India has once again pushed back a contentious plan to limit major technology companies' control of the nation's digital payments system, extending a regulatory uncertainty that has weighed on the sector for years. From a report: The National Payments Corporation of India said on Tuesday it would ex...
India has once again pushed back a contentious plan to limit major technology companies' control of the nation's digital payments system, extending a regulatory uncertainty that has weighed on the sector for years. The decision provides temporary relief to Walmart-backed PhonePe and Google Pay, which together handle more than 85% of transactions on UPI. The network, which processes over 13 billion transactions monthly, has become the backbone of India's digital economy since its launch eight years ago.
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