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Amazon and Meta team up to challenge Google Pay and PhonePe UPI dominance in India
Technology
Published on 30 April 2026
Rivals want new rules after controlling 80% share
Amazon and Meta are joining rivals in a regulatory push to curb the dominance of Google Pay and PhonePe in India’s UPI instant payments market. Together they account for about 80% of transaction volume, and competing players are planning meetings with regulators to lobby for restrictions that could reshape how the payment system operates.
- Google Pay and PhonePe handle about 80% of UPI instant payments
- Amazon and Meta are backing efforts to limit their dominance
- Rivals plan regulator meetings to lobby for new restrictions
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This summarization was done by Beige for a story published on 
TechCrunch