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June 3, 2020Blog Posts

Google and Walmart establish dominance in India’s mobile payments market as WhatsApp Pay struggles to launch

TechCrunch

In India, it’s Google and Walmart-owned PhonePe that are racing neck-and-neck to be the top player in the mobile payments market, while Facebook remains mired in a regulatory maze for WhatsApp  Pay’s rollout.

Google Pay had more than 75 million transacting users last month, ahead of PhonePe’s  60 million users, people familiar with the companies’ figures told TechCrunch.

In comparison, SoftBank -backed Paytm’s  app saw 30 million transacting users last month and an average of 10 million users transacted each day, people familiar with the matter said. Paytm has refuted these figures. TechCrunch could not determine daily transacting users of Google Pay and PhonePe.

Google still lags Paytm’s reach with merchants, but the Android -maker has maintained its overall lead in recent months despite every player losing momentum due to one of the most stringent lockdowns globally in place in India.

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