Paytm and PhonePe add new trading solutions as India’s payment space heats up

Two of India’s largest payment players, Paytm and PhonePe (partly owned by Walmart Flipkart), each announced new digital solutions.

The volume of consolidated payment interfaces has reached 2.8 billion

The volume of consolidated payment interfaces has reached 2.8 billion.

Insider Intelligence

The pandemic has accelerated the digitization of India – expanding development opportunities for players such as Paytm and PhonePe.

The adoption of e-commerce and digital payments among India’s vast population makes the country a privileged position for payment players such as Paytm and PhonePe to expand their solutions – although they will have to compete for market share as the space heats up. . For example, Amazon’s BNPL solution has been seen huge adoption in India, making the player that Paytm may want to watch if it wants its own BNPL product to dominate the market.

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