No other payment aggregator has been able to pull off what Phonepe has in less than a year. 

Its nearly 50 per cent market share is obviously a huge draw for new merchants. And in the last couple years, its been able to onboard some pretty big names like Bharti Airtel and IRCTC. 

But the bigger the client, the more ruthless their demands. At the end of the day, they are only loyal to the aggregator that promises them the lowest prices and highest success rates. 

So how does PhonePe make sure that it stays on top? And where does that leave everyone else? 

Tune in.

Correction: The host mistakenly referred to NPCI as NCPI towards the end of this episode. We apologise for the error.

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