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videos | IST

There's a need for competitive app stores, says PhonePe CEO

PhonePe CEO Sameer Nigam said that it's the lack of competition that has led to monopolies.

While regulators and several developers across the world are concerned about in-app payment policies of Apple and Google, PhonePe CEO Sameer Nigam has said that the fintech platform doesn't have an issue with Google's 30 percent fee.
In an interview with Mugdha Variyar, Nigam added that it's the lack of competition that has led to these monopolies.
"The need for competitive app-stores is there. In a market like India with 700 million people, I don't think that an operating system being universally popular is a justification for there to be only one play store. I don't have a problem with Google charging 30 percent, Apple charging 15 percent, I actually don't care what they charge as long as open markets prevail."
Watch video for more.