Is it the end of WhatsApp's UPI ambition? – Business Standard

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Debarghya Sanyal  |  New Delhi 

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Indian EV sector may be off to a good start. But, banks have clearly missed the bus. In RBI deputy governor T Rabi Shankar’s words, they failed to scale-up the UPI in early days, and the opportunity was grabbed by the non-banks. Two of them – and – now rule the space with about 82% market share. And, it seems, their free run will continue as the 30% market cap mandate will not come into force for another two years. So what does it mean for new players like WhatsApp? This podcast answers this question.
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