[omk]

I have always suspected the beefed up valuations of payment apps in India related to lack of regulations in place for use data protection and privacy. Most of these apps seem to be making money on some sort of data driven business models.

If that is true, the valuations do make sense. If you can provide purchase power metrics for half a billion users, a $7B valuation might start to seem modest.

[fellellor]

Yeah. For example, Google pay also needs your location information and access to your contact lists in order to conduct any transaction. Unfortunately, the government (NPCI) owned BHIM app is plagued with all kinds of performance issues, and the transactions often fail. Otherwise, I wouldn't even have considered the Google or Flipkart owned payment apps.

[harshvladha]

Thanks for this perspective.

I think CRED is also doing the same.