UPI market dominated by two firms raises regulatory concerns

1 Nov 2025 · 15:04 ISTmarket hours1 source ↓written by the desknot a recommendation

The India FinTech Foundation has highlighted that over 86% of UPI transactions are controlled by just two firms, PhonePe and Google Pay. This quasi-monopoly threatens competition and resilience in India's digital payment landscape. The foundation urges the Ministry of Finance and RBI for regulatory intervention to support smaller platforms and ensure market inclusivity.

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Sourcesnews.google.com

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UPI market dominated by two firms raises regulatory concerns

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