Iโve noticed that even though we have Indian apps like Paytm and PhonePe, a lot of customers still prefer using Google Pay. It makes me wonder why foreign companies still have such a strong hold in India.
Yash Barnwal
Building JalSevaย โขย 21h
phonePe is not Indian as it's owned by Walmart now
UI of Paytm is still Hotchpotch and they also don't provide Dark theme
0 replies
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Udyamee
Baki sab thik ?ย โขย 9m
Phonepe was acquired by Flipkart in 2016.
Later
In Dec 2022, PhonePe separated from Flipkart, but both companies are still owned by Walmart.
So, why need another UPI app?
India may have created huge technologically advanced Startups based on UPI but in reality it's no more Indian to be honest . US Monopolies in Indian Market in every important sectors.
๐Just take a look.
PhonePe (Owned by Walmart, USA) โ 48.9%
Goog
Walmart owned UPI payment giant PhonePe to enter Indian share market soon! Currently very basic proccess of IPO (Initial public offering) works are going on from PhonePe side.
When PhonePe gets complete approval from SEBI, They share their complete
Iโve noticed that even though we have Indian apps like Paytm and PhonePe, a lot of customers still prefer using Google Pay. It makes me wonder why foreign companies still have such a strong hold in India.
10 replies12 likes
M S Shaikh
Hey I am on Medialย โขย 11m
What will be the future of Paytm? Paytm is First Mover But now phonepe has 47.2% share of UPI transactions
Which is the Indian made app store?
PhonePe, owned by Walmart Inc., launches Indus Appstore, a new Android-based mobile application store in India to compete with Google's Play Store. The store offers over 200,000 apps and games in 12 Indian language
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Ayush Maurya
AI Pioneerย โขย 2m
The new Medial Update is just lit ๐ฅ
especially the dark mode and other UI improvements
1 replies4 likes
Vaibhav Babruwan Shingde
Studentย โขย 3m
PhonePe IPO Is Coming!
โข PhonePe is planning an IPO to raise capital at a valuation of $8-10 billion.
โข In 2023, PhonePe raised $200 million from Walmart at a pre-money valuation of $12 billion.
โข PhonePe dominates the UPI payments business with a
๐จ Market Share of UPI Apps (July 2024)
โข PhonePe - 48.3%
โข Google Pay - 37%
โข Paytm - 7.82%
โข Others - 6.88%
CRED is Now The 4th Largest UPI Player.
1 replies6 likes
Laxit Rana
ย โขย
Reputeย โขย 6m
Finished implementing phonePe in my company and to my surprise total merchant traffic of phonepe was more than of Paytm, Amazon Pay, flipkart seller and Bharatpe all combined. we may be using Gpay or Paytm for day to day transactions but it's PhonePe