The digital payments industry, both online and in physical retail, seems set for serious M&A activity as the larger players move to consolidate.
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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.
It reported losses in Q2 and Q3, its financial services business is reeling and its payments business is growing but earning less. The Gurugram-based fintech needs a turnaround.
The messaging giant is a minnow when it comes to payments. Relief from NPCI could be just the fillip it needs to finally take on leaders PhonePe and Google Pay.