However, the older players including Google Pay, Paytm and PhonePe continue to hold the major share of the digital payments market in India.Īs part of government’s larger efforts towards Digital India, NPCI had introduced the system of United Payments Interface (UPI) for digital payments in the country. This has led to many popular tech giants including Amazon and WhatsApp to introduce their own digital payment services further leveraging on their user base.
Online payment apps and mobile wallets have significantly risen in popularity and gained wider acceptance in the recent years.