Amazon, Meta join fight to end Google Pay, PhonePe dominance in India
PhonePe and Google Pay command 80% of India’s UPI instant payments network. Rivals are set to meet with regulators to lobby for restrictions.
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India moves to give its instant payments network a business model
The legislation lays the groundwork for a potential overhaul of India’s zero-merchant-discount-rate regime, under which businesses have not paid fees to accept UPI payments since 2020.
