Facebook's deal with Jio is unlikely to make a dent in India's mobile payments market, where Google Pay, PhonePe, and Paytm have emerged as the big players (Nikhil Pahwa/MediaNama)

Nikhil Pahwa / MediaNama:
Facebook's deal with Jio is unlikely to make a dent in India's mobile payments market, where Google Pay, PhonePe, and Paytm have emerged as the big players  —  So it's confirmed: Facebook has bought 9.9% stake in Jio Platforms Limited, the parent company of Reliance Jio Infocomm Limited, for $5.7 billion (Rs 43,574 crore).

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