India scrambles to curb PhonePe and Google's dominance in mobile payments

National Payments Corporation of India (NPCI) is set to engage with fintech startups this month to develop a strategy to address the growing market dominance of PhonePe and Google Pay in the UPI ecosystem. The governing body overseeing the country's widely used Unified Payments Interface (UPI) mobile payment NPCI is set.

Google Wallet replaced Google Pay, which will shut down soon. Google Pay will be replaced by Google Wallet, which is set to close soon. The new features include banks, credit cards, credit card purchases and other features. Google Wallet is now available on Android and iOS devices.

Google Wallet will likely launch in India soon, nearly two years after its debut as a digital wallet platform in the U.S. Google Wallet appears in India, with local integrations, but Pay will stay. Google Wallet is set to launch in the country soon, but not in India.