It acknowledged, “The necessity for a Desi Counter Intuitive App can’t be over-emphasised as we transfer in direction of leveraging knowledge”.
As per the information for July 2025, PhonePe has emerged because the clear chief within the UPI area. The app recorded a large 8,931 million transactions in quantity and transactions price Rs 12,20,141 crore in worth.
Google Pay was the second-largest participant, with 6,923 million transactions in quantity and a complete transaction worth of Rs 8,91,297 crore. Paytm stood in third place, recording 1,366 million transactions in quantity and a worth of Rs 1,43,651 crore.
Different gamers reminiscent of Navi and tremendous.cash reported a lot smaller numbers. Navi processed 444 million transactions price Rs 23,563 crore, whereas tremendous.cash dealt with 253 million transactions with a worth of Rs 9,019 crore.The report famous that this greater focus of transactions amongst a number of apps might limit India-centric fintech innovation going ahead.Whereas the UPI ecosystem has grown quickly and remodeled digital funds, the dearth of a robust, absolutely indigenous app might pose long-term challenges when it comes to knowledge management and innovation.The report highlighted the significance of making a “Desi Counter Intuitive App” that focuses on India’s distinctive necessities moderately than merely following world fashions.
The report mentioned that the necessity for such an app can’t be overemphasized as India strikes in direction of leveraging knowledge in its digital and monetary programs.
At current, UPI knowledge is concentrated with a number of massive gamers, and most of those platforms have robust overseas possession or affect.
This, the report cautioned, will not be ultimate for India in the long term, particularly when monetary transaction knowledge is rising as a vital driver of innovation in digital lending, insurance coverage, and different fintech providers.
The report concluded {that a} absolutely homegrown UPI app wouldn’t solely assist in safeguarding transaction knowledge but in addition be certain that fintech innovation within the nation grows in a method that’s aligned with India’s wants and priorities.