India May Delay Capping UPI Market Share, Benefiting PhonePe, Google Pay

Quick Summary:

India’s mobile payments regulator is likely to extend the deadline for imposing market share caps on the popular UPI payments rail by one to two years, sources familiar with the matter told TechCrunch.

UPI has become the most popular way to send and receive money and make payments in India, and the channel sees over 11 billion transactions per month.

PhonePe currently commands roughly 49% market share by volume, followed by Google at 37.4%.

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Article Details

Author / Journalist: Manish Singh

Category: Technology

Markets: United StatesCanadaIndiaThailand

Topics: Fintech Google TC

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-09 @ 10:18:49 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1093 words

Reading Time: 7 minutes read

Sentences: 46 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 20923155

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