Paytm’s UPI market share continues to slide down after RBI crackdown

Paytm’s share of the unified payments interface (UPI) market in India fell for a fourth straight month as the fintech pioneer struggles to recover from a regulatory setback.

Paytm accounted for 8.1% of total UPI transactions in May, down from 13% in January, according to data released by the National Payments Corporation of India.

The company was rocked in January when the Reserve Bank of India ordered Paytm Payments Bank Ltd., a banking affiliate, to wind down operations. Its shares have fallen about 55% since then.