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India's UPI fee shift could boost PhonePe and Google Pay revenues, raise concentration concerns
Pakistan • Afghanistan • Region
India's UPI fee shift could boost PhonePe and Google Pay revenues, raise concentration concerns
A new 0.4% merchant fee on UPI transactions above 2,000 rupees from October 15 could generate up to $1.1 billion a year for payment apps by March 2028, with PhonePe and Google Pay positioned to capture most of that revenue based on current market share.