economy
May 1, 2026
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.
TL;DR
- Amazon, Meta, and other payment platforms are lobbying India's NPCI regarding market dominance.
- PhonePe and Google Pay hold roughly 80% of the UPI instant payments market share.
- Rival companies are concerned about their ability to compete with dominant players.
- Proposals include restrictions on user acquisition, fair access to features, and incentives for smaller players.
- NPCI faces challenges in curbing dominance without disrupting services.