Agree with this, and also latest AR also confirms this. But they have some share which is as per the transaction cost (not sure about the percentage)
If you see above image, TSP is majorly License based or per login except Transaction Processing Engines.
On the other hand, for EVOK, Merchant UPI SDK – Plug-in might also be on pay per transaction.
Correct me if I’m wrong here, since UPI switch needs to be scalable based on number of transactions, I think this part is on pay per transaction model. Although, I’m not sure what is the revenue share of this particular segment.
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