Explore the latest news, in-depth reports, and executive analysis tagged with #Google Pay.
UPI's new 0.4% MDR grabbed headlines, but the real story is who profits. By our estimates, the top three UPI apps could get up to 40% of the MDR split.
In a joint representation, seven UPI apps have raised concerns around competition, customer choice, market concentration, security, transaction success rates and operational complexity.
Other companies such as Flipkart's super.money and Cred have also launched co-branded credit cards recently.
PhonePe topped the list, processing 8.55 billion transactions worth Rs 11.99 lakh crore, securing a 46.5% share by volume and nearly half the total transaction value.
The market share of the Vijay Shekhar Sharma-led fintech further plummeted to 6.87% in the month of December.
Last year, The Head and Tale reported that NPCI was facing difficulty in implementing the 30% cap on UPI market share; and the market was going to miss the December 2024 deadline too.
Flipkart Group’s UPI app super.money also witnessed surge in its number of transactions in October to 50 million.
PhonePe controls 48% market share in terms of volume of transactions; Google Pay (37.4%) and Paytm (7%).
In April 2024, PhonePe held 48.3% market share in terms of the total UPI volume processed; while Google Pay captured 37.4% share.
