Paytm is betting big on UPI and though it’s still a distant third, analysts believe it could have an edge over PhonePe and Google Pay

Apart from a slight dip as the nationwide lockdown started, UPI’s numbers had been growing constantly until January 2021.

While there’s no beating PhonePe’s phenomenal growth in the space, what’s noticeable is Paytm’s rise in the segment.

Paytm’s growth in UPI comes as the payments method sees widespread adoption from merchants.

With the COVID-19 pandemic, the move to digital has become even more important and with that, the growth of India’s financial technology players.

Over the past one year, UPI or United Payments Interface, India’s burgeoning digital payments bet, has seen exponential growth and taking home the biggest shares in the market are players like PhonePe, Paytm and Google Pay.

The full article was originally published on Business Insider