‘Absolute hogwash’, Paytm on Google’s move to lower app store commission

Paytm on Tuesday said that Google’s move to slash Play Store commission is an attempt to divert the attention from a larger issue. The company also reiterated that Google must allow other payment platforms.

“It is absolute hogwash on the big issue of how Google is taking the money from the Indian app industry altogether & this is an attempt to divert the attention. Digital-native companies have millions of dollars of revenues & they continue to pay 30 percent which is way exorbitant & are not allowed to use even our own payment platforms. It is shocking that Google has yet not solved the biggest issue that they control the destiny of this country’s internet and technology industry & overall all industries which aim to use the internet & technology by allowing them to use their own payment platform & not force them to pay this tax,” a company spokesperson said.

“Google’s tax of 30 percent is effectively all the margin any technology company in India can ever make & means that we would raise equity and pay Google those dollars back in their home.