Get the latest tech news
Indian parliamentary panel red-flags PhonePe and Google Pay cornering 83% of India’s UPI payments
An Indian parliamentary panel has urged the government to support the growth of domestic fintech players that can provide alternatives to the An Indian parliamentary panel has urged New Delhi to support domestic fintech players to rival duopoly of PhonePe and Google Pay.
An Indian parliamentary panel has urged the government to support the growth of domestic fintech players that can provide alternatives to the Walmart-backed PhonePe and Google Pay apps that currently command more than 83% of the country’s fast-growing digital payments market. The disruption at Paytm will likely cause the payment app’s market share in UPI to fall further to rivals PhonePe and Google Pay, industry executives cautioned. PhonePe commanded 46.91% of the UPI market share by volume during the period of October to November 2023, the parliamentary committee on communications and IT wrote in its report.
Or read this on TechCrunch
