PhonePe, Google Pay to benefit as India may delay market share cap on UPI payments

PhonePe, Google Pay to benefit as India may delay market share cap on UPI payments

A smartphone with the Apple Pay logo is placed on a displayed Google Pay logo in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration.

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