This is an interesting topic and I share my opinion about it. View the original post written by me on Quora.com
Google Pay (Tez) and phone pay are working on same business model as of now both are not generating enough revenue and creating user base and attracting user to bring on their platform with cask back on transaction.
If you use PhonePe you may have seen suggested merchant outlet, promoted App, In future both the App will generate revenue with advertising and merchant tie up. After demonetization in India people started App like Paytm which is good sign to make India Digital and Corruption free.
In any online business you have to provide huge discount to attract customer and then generate revenue with advertising and charging smaller commission with merchant as Zomato and Swiggy are doing , Google Pay and Phon Pay are following same business model.
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