Govt Leaders Are Concerned Because PhonePe, Google Pay Have Grabbed 83% Market Share

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10 months ago

An Indian parliamentary committee has red-flagged domestic payments landscape concentration cautioning 83% market share capture by Google Pay and PhonePe in booming UPI channels. Recommending urgent support for homegrown alternatives like BHIM, it stressed curtailing worrying dependence on global big tech players for strategic sovereignty reasons. RBI has also repeatedly voiced similar monopoly concerns previously […]

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