Amazon and Meta ask NPCI to intervene in PhonePe and Google Pay's dominance in UPI

Friends, sharing a fintech update: Amazon and Meta, along with Amazon Pay, WhatsApp, CRED, MobiKwik and Super.money, plan to meet NPCI over PhonePe and Google Pay's dominance in UPI.

- Participants will discuss user-acquisition tactics, use of contacts and access to features (autopay, payment mandates).
- PhonePe and Google Pay account for roughly 80% of March's 22.6 billion UPI transactions, hindering competition.
- NPCI has deferred a market-share cap until end-2026, leaving regulation unresolved.

Why it matters: concentration limits competition and consumer choice.

What steps should the regulator take?

#fintech #UPI #payments #regulation