ABSTRACT
This chapter examines big tech’s entry into India’s digital payments sector, focusing on Google Pay within the UPI ecosystem. It contends that such expansion constitutes a sector transgression, wherein technology firms leverage their established positions to enter and reshape public service domains. The analysis illustrates the risks of market concentration, regulatory shortcomings, and potential consumer harms arising from the evolution of payment apps into financial super-apps. It further critiques the government’s enabling role through policy choices and omissions, including the imposition of restrictions on merchant discount rates. The chapter concludes by underscoring the urgent need for robust regulatory oversight to safeguard the public interest and maintain fair competition.
