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. The National Payments Corporation of India (NPCI), a special unit of the Reserve Bank of India, plans to extend the deadline for […]
India scrambles to curb PhonePe and Google’s dominance in mobile payments
The National Payments Corporation of India (NPCI), the governing body overseeing the country’s widely used Unified Payments Interface (UPI) mobile payment system, is set to engage with various fintech startups this month to develop a strategy to address the growing market dominance of PhonePe and Google Pay in the UPI ecosystem. NPCI executives plan to […]
PhonePe aims to be a top Google Play alternative in India — but it has a challenging road ahead
Walmart-backed PhonePe is set to launch its Android app store this week with zero commission for in-app purchases for developers. The app store is based on Indus OS’ tech, a company that PhonePe acquired in 2021. In this story, we are going to take a look at why developers are pushing for an alternative store […]
India stumped on how to cut PhonePe and Google dominance in payments
India is facing a quandary in enforcing long-delayed rules to curb the dominance of PhonePe and Google Pay in the country’s booming digital UPI payments market. The National Payments Corporation of India (NPCI), a special unit of the central bank, wants to cap market share of any player at 30% in the Unified Payments Interface […]
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 Walmart-backed PhonePe and Google Pay apps that currently command more than 83% of the country’s fast-growing digital payments market. The 58-page report, which includes a series of recommendations, comes at a time when […]