The move is expected to benefit market leaders Google Pay and PhonePe, which currently dominate the UPI payment market.
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Chinese giant Meituan has made quite a splash in Saudi Arabia. With its impending launch in the Emirates, it will rival Dubai’s food delivery majors Talabat, Deliveroo, Careem and Noon.
A crash in lending saw the fintech end the financial year in the red. But its payments business is going strong, and the worst may be over in the loans business.
Vijay Shekhar Sharma has focused on improving compliance, cutting costs and recovering market share after the RBI shut down his payments bank last year. The fintech major is yet to recover to its earlier highs, but its turnaround is gathering momentum.