But that's because it is a law, market cap cannot go beyond 33.33% for a single player in UPI
How's it going back to the stone age?
The intent to reduce the market share is right. UPI is fundamental to the growth of our economy. It's just sad that no other player is able to step up. BHIM was a great initiative but they need to push it harder if they intend to reduce the market share of others, cause phonepe or GPay have little control over their market share anyway
But then, they should support the market. This Paytm incident will instill fear in the mindset of VCs and founders. I doubt if a new player would have the courage to enter the market and compete with these existing players.
Consider what they did with fantasy gaming apps. Why did they initially allow these companies, only to attempt to dismantle them after 2-3 years?"
Paytm incident is completely on Paytm. Compliance isn't to be played around with. They fucked around and found out.
Indians don't have the safety net of economic power (like the US does) to withstand huge instabilities. RBI being prudent helps and they've been doing a fantastic job of maintaining economic stability.
Do any of the companies gain (directly) from gaining UPI marketshare? No, they make little to no money on UPI. Even more reason to not hand over the power to one or two players. Imagine phonepe and GPay collude to charge transaction charges?
It is not Stone Age but learning from History
It helps in reducing systematic risk
Imagine only 1-2 players
-If system goes down what happens to digital India
-What happens to caps on fees - see Google play for example
-And more such reasons
I thought Adani has the monopoly in power market and many more and government support him.
Woah ! Where is Adani coming into this! Ok if u really like to explore , pls tell me two players who were more deserving then Adani in power but lost in open tenders .
(PS : Adani may not be a saint , but that’s not what we are discussing here )
Now road cleared for Ambani pay to corner the market.
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