Yes Bank, HDFC Bank, ICICI Bank, and Axis Bank handle almost 60% of merchant UPI payments. Yes Bank has the largest share, driven by PhonePe merchants. Axis Bank and SBI have also seen growth. Banks are interested in merchant payments for revenue. They charge fintechs for processing escrow accounts and other services. SBI leads in customer-side UPI transactions.
from Tech-Economic Times https://ift.tt/KihA48R
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