DPI Deep Dive — Tuesday | March 17, 2026
DPI Deep Dive — Tuesday | March 17, 2026 Focus Layer: L2 Payments & Financial Rails Coverage Period: March 10-17, 2026 Executive Summary This week’sPayments layer developments reveal a sector in transition. PhonePe, India’s largest UPI platform, has shelved its planned IPO citing geopolitical tensions and market volatility, marking a significant pause in the digital payments IPO narrative. Meanwhile, neobank Fi is pivoting away from consumer banking to focus on B2B AI technology, and SWIFT announced a new retail transaction framework that includes India among its initial target corridors for cross-border payments. Despite these headwinds, February 2026 data shows UPI processing continues its upward trajectory with PhonePe handling 9.3 billion transactions worth ₹13.1 trillion. ...