Fintech

The payments pie is growing, but with fewer slices

Pratik Bhakta

September 12, 2022 | 11 Min Read

As the Indian payments sector grows, stiff competition and revenue generation challenges are forcing midsized startups to find a home with their larger, better-funded peers. How is the payments landscape changing and will it soon become a ‘winner takes all’ market?

The Indian digital payments sector may be growing by leaps and bounds, but ironically, the number of contenders in this competitive space is shrinking. Reason: as a clutch of hyper-funded payment startups grab market share aggressively, their smaller peers are being acquired.

Over the last few months multiple payment companies have been completely acquired or have sold majority stakes to their larger rivals.

Here’s what has happened since the start of the year:

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