Why Parliamentary panel report may mean 'bad news' for Google Pay and PhonePe
Why Parliamentary panel report may mean 'bad news' for Google Pay and PhonePe
A parliamentary panel report has highlighted the dominant presence of foreign-owned fintech apps, like Google Pay and PhonePe, in the Indian fintech sector. The report recommends promoting local Indian players and cites BHIM UPI as an example. The National Payments Corporation of India (NPCI) has proposed a 30% ceiling on UPI volume share for apps.
A parliamentary panel report has highlighted the dominant presence of foreign-owned fintech apps, like Google Pay and PhonePe, in the Indian fintech sector. The report recommends promoting local Indian players and cites BHIM UPI as an example. The National Payments Corporation of India (NPCI) has proposed a 30% ceiling on UPI volume share for apps.
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A parliamentary panel report has highlighted the dominant presence of foreign-owned fintech apps, like Google Pay and PhonePe, in the Indian fintech sector. The report recommends promoting local Indian players and cites BHIM UPI as an example. The National Payments Corporation of India (NPCI) has proposed a 30% ceiling on UPI volume share for apps. 
