Yes Bank eyeing a piece of Paytm’s outgoing merchant base

The UPI market is big enough for traditional banks and technology enabled financial services players to co-exist rather than compete, according to Yes Bank’s managing director and chief executive officer Prashant Kumar.

“There is a lot of discretion in the country around the entire market share being concentrated with a few players. We are only saying there is a huge market. So we are also coming out with our solutions and giving convenience to the customer,” he said during a press meet in Bengaluru. The private lender earlier this month launched a mobile application for retail UPI payments.