UPI boosts RuPay market share; cost pressure for gaming firms
Since its inception, the Unified Payments Interface (UPI) has been a game-changer in the Indian digital payment landscape. The increasing popularity and adoption of UPI have not only transformed the way people transact but also impacted the market shares of other payment modes.
Impact on RuPay Market Share
One of the notable impacts of UPI's success has been on RuPay, the domestic card scheme launched by the National Payments Corporation of India (NPCI). With the rise in UPI transactions, RuPay has witnessed a significant increase in its market share within the country. This can be attributed to the seamless integration of UPI with RuPay cards, making them a preferred choice for many consumers.
Cost Pressure for Gaming Firms
On the other hand, the success of UPI has also brought about cost pressures for gaming firms operating in India. With UPI becoming the preferred payment method for online transactions, gaming companies are now required to invest more in integrating UPI payment gateways into their platforms. This additional cost has put pressure on their profit margins, leading to a reevaluation of their payment strategies.
Overall, the rise of UPI has reshaped the digital payment ecosystem in India, impacting market shares and imposing cost pressures on various industries, including gaming. As UPI continues to gain momentum, businesses will need to adapt to the changing landscape to stay competitive in the market.
