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India’s Paytm wins approval to resume onboarding new UPI users
Paytm, a leading Indian financial services firm, has received regulatory approval to resume adding new UPI payments users, following an eight-month Paytm has received regulatory approval to resume adding new UPI payments users, following an eight-month restriction.
Paytm, a leading Indian financial services firm, has received regulatory approval to resume adding new UPI payments users, following an eight-month restriction on many of its operations. Walmart-owned PhonePe and Google Pay process about 87% of UPI transactions, whereas Paytm’s market share has shrunk from 13% to 8% after this year’s central bank restrictions. Analysts at Bernstein and Goldman Sachs said the approval is a “significant” development that will help revive Paytm’s transacting user growth.
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