24 Sep India’s Paytm Snitches Against Competitors
Paytm, India’s largest digital payments company, is reportedly adopting the strategy of snitching to gain advantage over its competitors such as Google Pay.
The Noida-based company recently wrote to the National Payments Corporation of India (NCPI) and reported that Google had been profiting off its customers payment data which it processes and stores outside of India. The data is also being shared with advertisers and third-parties.
The Alibaba-backed company also struck against Facebook and WhatsApp, with CEO Vijay Shekhar Sharma accusing the social networking of openly colonising India’s payment system and customising UPI to its benefit.