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Paytm's UPI market share declines for fourth straight month to 8% in May over RBI crackdown
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Also Read: Paytm share price hits 10% upper circuit. More steam left?Walmart Inc.-owned PhonePe maintained its dominant position in the market with a 49 per cent share in May, while Alphabet’s Google Pay boasted a 37 per cent share.
Since the RBI order, Sharma has moved to steady the ship through new partnerships with some of India’s top lenders including Axis Bank Ltd., HDFC Bank Ltd. and State Bank of India Ltd.
The alliances will help Paytm with instant money transfers that used to be handled by its banking affiliate. The company didn’t respond to a request for comment from Bloomberg News.
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