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Indian parliamentary panel raises concerns over foreign UPI payments app dominance

Indian parliamentary panel raises concerns over foreign UPI payments app dominance

India's current UPI Payments market is dominated by PhonePe and Google Pay while the homegrown BHIM App has a market share of a paltry 0.22 percent. This has raised concerns as expressed by an Indian parliamentary panel and sparked by Paytm’s failure to comply with the RBI mandates. Walmart-backed PhonePe is the current market leader in the UPI payments infrastructure…
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