E-payments battle costs cos $900 million in loss

The fight for dominance in digital payments has caused a collective loss of nearly $900 million (Rs 6,500 crore) for Paytm, PhonePe and Amazon's payments unit in India for the year ended March 2020. Two of these firms reduced cashbacks, but marketing & promotional spends and other costs remained high.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3rIKXN5
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