NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, July 12, 2017

It’s not exactly reassuring to have Google as a competitor even if you are Paytm, India’s largest mobile wallet company, or Airtel, the country’s largest telecom operator. Paytm, Airtel, and MobiKwik, among others, are trying to grab a sizeable chunk of mobile payments’ users, but they will soon have fight $659 billion-pound gorilla, Alphabet Inc, owner of Google and other Google subsidiaries.

AP Hota, CEO and managing director of the National Payments Corporation of India (NPCI), told reporters at conference in Bengaluru on Monday that Google has almost completed testing its UPI (Unified Payments Interface)-based payment service, which allows fast and easy transfer of money from one bank account to another through mobile.