phonepe

phonepe is set to revolutionize digital payments for feature phone users in India by acquiring GSPay's technology. This strategic move, leveraging NPCI's UPI 123PAY framework, aims to integrate millions into the digital economy. The upcoming phonepe app will offer P2P transfers and offline QR code payments, ensuring seamless interoperability with smartphone users.

phonepe and Google Pay continue to dominate India's UPI ecosystem, capturing significant market share in May. phonepe processed ₹12.56 lakh crore across 8.7 billion transactions, nearly half the UPI market. Google Pay handled ₹8.85 lakh crore with 6.7 billion transactions. While UPI transactions rose to 18.68 billion, growth is slowing, and monetization challenges persist as MDR reinstatement hopes fade.

Paytm's stock price plummeted by 10% following the finance ministry's denial of plans to introduce Merchant Discount Rate (MDR) on UPI transactions, contradicting earlier media reports. The clarification triggered investor concerns, leading to Paytm's steepest single-day drop since February 2024. Payments Council of India had previously advocated for MDR to sustain digital payments infrastructure.

From 2014 to 2025, the Modi government implemented significant economic reforms like GST and the 'Make in India' campaign, alongside initiatives such as 'Digital India'. Social welfare programs, including Ujjwala Yojana and Ayushman Bharat, improved citizens' lives. India's global influence grew through forums like G20, with decisive actions in national security and constitutional changes like the abrogation of Article 370.

Starting July 31, 2025, UPI users will encounter restrictions on non-financial actions like balance checks, as NPCI regulates API usage to prevent system overloads. Banks and PSPs must comply by moderating high-frequency APIs, with penalties for non-compliance. These changes aim to improve UPI service reliability during peak hours, ensuring smoother user experiences despite some limitations on real-time updates.

iQoo has launched the Neo 10 in India, expanding its mid-range smartphone series. It features a Qualcomm Snapdragon 8s Gen 4 chipset, a 7,000 mAh battery, and a 50MP dual camera system. Available in multiple RAM and storage configurations, the phone boasts a 6.78-inch 1.5K AMOLED display with a 144Hz refresh rate and is available for pre-booking with launch offers.

phonepe experienced a technical disruption on Monday, causing widespread transaction failures. A network capacity shortfall during peak traffic, triggered by active DR drills and heightened cybersecurity measures, led to the outage. While some users reported issues across various payment platforms and banking apps, services have largely been restored, and phonepe is working to strengthen its systems.

New India Assurance aims to boost market share and profitability by focusing on private car and two-wheeler insurance, enhancing digital partnerships, and expanding into the SME sector. Despite a drop in investment income due to market fluctuations, the insurer has improved its combined ratio and is pushing for revised third-party premiums to navigate competitive pricing pressures.

phonepe has launched its next-generation SmartSpeaker, manufactured in India, boasting enhanced connectivity and power efficiency. The upgraded device utilizes a 4G network for faster speeds and greater reliability. It fully charges in 75 minutes and offers a standby battery life exceeding seven days.

Starting June 16, 2025, UPI transactions are poised to become faster as NPCI mandates reduced response times for key APIs. The response time for commonly used UPI APIs, such as Request Pay and Check Transaction Status, will be reduced to 15 and 10 seconds, respectively.

Fintech giants phonepe and Razorpay are transitioning into public limited companies, signaling their IPO readiness in India. phonepe's conversion awaits approvals, while Razorpay's move aligns with its re-domiciliation and anticipated 2026-27 IPO. These steps enable both companies to access Indian capital markets, with phonepe addressing UPI market-share limits and Razorpay streamlining its structure.

Amazon has invested Rs 350 crore into Amazon Pay India to strengthen its position in the digital payments market, despite its UPI ranking slipping to eighth place. This investment follows previous capital infusions and comes as Flipkart's Super.money explores new funding.

Flipkart is relocating its holding company from Singapore back to India, a move prompted by Walmart's plans for an IPO of the e-commerce giant on Indian stock exchanges. This repatriation aligns Flipkart's structure with its core operations and mirrors a growing trend among Indian startups seeking favorable domestic listing opportunities.