India to Restore UPI Merchant Fees, PhonePe Gains Most
India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
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phonepe
UPI Hits Record 23.2 Billion Transactions in May
UPI processed a record 23.2 billion transactions worth Rs 29.90 lakh crore in May 2026, up 3.8% from April, per NPCI data. The milestone deepens pressure on regulators to address market concentration, with PhonePe and Google Pay together holding nearly 80% of transaction volume.
PhonePe Hits 47% UPI Share Ahead of IPO
PhonePe's UPI market share rose to 47.07% in April 2026, even as total UPI volume dipped 1.3% month-on-month to 2,235 crore transactions. With an IPO on the horizon and NPCI's 30% market share cap deadline set for December 2026, regulatory pressure on the company is building.
Razorpay Eyes IPO at $5, 6 Billion, Below Last Valuation
Razorpay is targeting a confidential IPO filing in India, seeking $600, 700 million at a $5, 6 billion valuation, down sharply from its $7.5 billion private mark. The listing faces scrutiny on growth sustainability and profitability, with peer PhonePe having paused its $1.3 billion IPO last month over West Asia conflict
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Indian Govt serves up the UPI MDR removal that Phonepe has been waiting for
India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
24d ago · 4 min · Policy & Government
UPI crosses 23 Bn monthly transactions for the first time in May
UPI processed a record 23.2 billion transactions worth Rs 29.90 lakh crore in May 2026, up 3.8% from April, per NPCI data. The milestone deepens pressure on regulators to address market concentration, with PhonePe and Google Pay together holding nearly 80% of transaction volume.
2mo ago · 3 min · Markets
UPI In April: PhonePe Tightens Grip With Over 47% Market Share
PhonePe's UPI market share rose to 47.07% in April 2026, even as total UPI volume dipped 1.3% month-on-month to 2,235 crore transactions. With an IPO on the horizon and NPCI's 30% market share cap deadline set for December 2026, regulatory pressure on the company is building.
3mo ago · 3 min · Markets
Razorpay plans confidential IPO filing soon; targets $600-700 million raise at $5-6 billion valuation
Razorpay is targeting a confidential IPO filing in India, seeking $600, 700 million at a $5, 6 billion valuation, down sharply from its $7.5 billion private mark. The listing faces scrutiny on growth sustainability and profitability, with peer PhonePe having paused its $1.3 billion IPO last month over West Asia conflict
4mo ago · 1 min · Business
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