Amazon, Meta to Challenge PhonePe, Google Pay Grip Amid Signs Of Deep Concentration in India’s UPI Market
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India’s Unified Payments Interface has become the backbone of everyday transactions, processing over 18-20 billion payments a month.
What began as a public digital infrastructure has now evolved into a highly concentrated market dominated by a handful of private apps.
At the centre of this system are two players: PhonePe and Google Pay. Together, they handle the bulk of India’s digital payments, shaping how millions of users pay, transact, and interact with money daily.
The latest push
What began as a public digital infrastructure has now evolved into a highly concentrated market dominated by a handful of private apps.
At the centre of this system are two players: PhonePe and Google Pay. Together, they handle the bulk of India’s digital payments, shaping how millions of users pay, transact, and interact with money daily.
The latest push
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