Download App

Startup Showcase

Join our whatsapp channel for quick updates

Switch theme

Blog . Feedback . Privacy

© 2024 Medial Tech Pvt. Ltd.

News on Medial

Indian parliamentary panel red-flags PhonePe and Google Pay cornering 83% of India's UPI payments amid Paytm clampdown

Startup News FYI

Startup News FYI · 9m

Indian parliamentary panel red-flags PhonePe and Google Pay cornering 83% of India's UPI payments amid Paytm clampdown

An Indian parliamentary panel has raised concerns about the dominance of PhonePe and Google Pay in India's digital payments market, which command over 83% of the sector. The panel has urged the government to support local fintech players to provide alternatives. This comes as Paytm, another leading payments firm, faces a clampdown on its operations. The Reserve Bank of India's directive could further boost the market share of PhonePe and Google Pay. The report also highlights the low market share of indigenous UPI app BHIM. The National Payments Corporation of India has previously expressed similar concerns about the duopoly in the market.

7

Comments

More Like this

India stumped on how to cut PhonePe and Google dominance in payments | TechCrunch

India stumped on how to cut PhonePe and Google dominance in payments | TechCrunch

Parliamentary panel flags dominance of foreign-owned UPI apps, urges promotion of local fintechs

Parliamentary panel flags dominance of foreign-owned UPI apps, urges promotion of local fintechs

Paytm UPI payments drop further in March; PhonePe, Google Pay show gains

Paytm UPI payments drop further in March; PhonePe, Google Pay show gains

Sharma's Paytm UPI payments drop further in March; PhonePe show gains

Sharma's Paytm UPI payments drop further in March; PhonePe show gains

Paytm UPI payments drop in February following RBI action

Paytm UPI payments drop in February following RBI action

Paytm’s UPI Transactions Drop Further In March; PhonePe, GPay Log Gains

Paytm’s UPI Transactions Drop Further In March; PhonePe, GPay Log Gains

Flipkart’s UPI Hits Record 5 Mn Transactions In March

Flipkart’s UPI Hits Record 5 Mn Transactions In March

PhonePe, Google Pay Accounted For 85% Of UPI Transactions In May

PhonePe, Google Pay Accounted For 85% Of UPI Transactions In May

Paytm's UPI market share dips to 9% in March, lowest in 4 years

Paytm's UPI market share dips to 9% in March, lowest in 4 years

PhonePe dominates UPI ecosystem with 49% market share in April

PhonePe dominates UPI ecosystem with 49% market share in April

Top Users

Trending Posts on Medial

The winner of our last giveaway where we asked Medial members "Who’s the most knowledgeable shark in ....

so, how many of you sent an email to d@zomato.com today :P ....

Tanmay bhat said "Only a foolish would not give luck any credit" This is so apt. Like I can't imag ....

Share your answer for a chance to win the book "Surrounded by Idiots" by Thomas Erikson. Go! Deadl ....

Basics on Medial🟣 Difference between b2c and d2c ....

Top News of the Day: 1. Google has been under fire in multiple antitrust trials for its internal co ....

What is costlier? ....

If ChatGPT got angry because of you, all it needs to do is add a simple instruction in its memory, a ....

Man behind India's third-largest food app after Zomato and Swiggy. 1. Anshoo Sharma had everything ....

Hey devs can I know how much would be the cost / how manu users it supports at x amount of time : f ....

Download the medial app to read full posts, comements and news.