Paytm

Amidst the mounting backlash from Indian startups, Google has postponed the enforcement of the 30% commission on in-app purchases by six months to April 2022.

Google faces backlash from Indian tech entrepreneurs for charging 30% commission on all in-app purchases.

Google claims this policy is only applicable to less than 3% of developers with apps on Google Play.

Paytm’s other apps such as Paytm Mall, Paytm Money and others are still available on Play Store.

Tech companies want to tap into customer data from small neighborhood shops in exchange for offering digital services.

While Ant Group holds the majority stake with a 29.7% share, Japanese conglomerate SoftBank has a 19.6% shareholding, followed by SAIF Partners with 18. 56% stake.

Indian technology companies have been trying to distance themselves from their Chinese backers amidst the ongoing political tension.

A survey of 1,000 merchants by RedSeer found that retailers believe their share of digital payments is going to increase significantly in the next 12 months.