Paytm’s market share Continues to fall after RBI crackdown

According to a Bloomberg report, Paytm's market share in India's online payment apps declined for the fourth consecutive month, standing at 8.1% of total UPI transactions in May compared to 13% in January. PhonePe led with a 49% share, followed by Google Pay at 37%. \r

Paytm's shares have also dropped by approximately 55% since the RBI ordered its affiliate, Paytm Payments Bank, to cease operations. Despite this setback, Paytm's founder Vijay Shekhar Sharma collaborated with top Indian lenders like Axis Bank, HDFC Bank, and State Bank of India to facilitate instant money transfers previously handled by Paytm Payments Bank. \r

Sharma acknowledged the near-term financial impact on revenue and profitability due to business disruptions in Q4.