Google Pay and Walmart-owned PhonePe dominate over India’s mobile app payment market with 75M and 60M monthly user transactions respectively. Paytm with more than 50M active user transactions, however, struggles to cope up with its peers due to confusion caused by wallet KYC and late adoption of UPI. Facebook planned to launch WhatsApp Pay by the end of 2019 but was caught up in solving issues that kept cropping up. The firm expected to reach $1T by 2023 in 2017.

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