Sunday, 11 February, 2024
Panel Raises Alarm on PhonePe, Google Pay UPI Dominance
The results of an Indian parliamentary panel show how popular PhonePe and Google Pay are, accounting for 83% of all Unified Payments Interface (UPI) transactions in India. Potential monopolistic behaviors and their effects on market competition are the panel's main areas of concern. The aforementioned examination highlights the necessity of regulatory supervision and actions to guarantee impartiality inside India's digital payment system.