UPI Transaction

RBI Slaps Rs 21 Lakh Fine on PhonePe for PPI Rule Violations and Escrow Irregularities

How do PhonePe, Google Pay, and Paytm earn thousands of crores even after providing free services?

PhonePe, Google Pay & Paytm profit via merchant speaker rentals (₹360cr/yr), scratch card ads, SaaS tools for SMEs, and selling transaction data insights – all while keeping UPI free for users. Their multi-source model earned ₹5065cr last year.

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UPI Transaction

RBI Slaps Rs 21 Lakh Fine on PhonePe for PPI Rule Violations and Escrow Irregularities

How do PhonePe, Google Pay, and Paytm earn thousands of crores even after providing free services?

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