"India’s Unified Payments Interface uses a different model: intervene before dominance rather than after. Instead of regulating private platforms that have already achieved lock-in, India built public payment infrastructure that any platform can connect to on equal terms. Google Pay, PhonePe, and Paytm compete on the same rails; none owns the customer relationship—that belongs to the user’s bank account. No single platform can raise fees on the underlying infrastructure because the infrastructure is public. Brazil’s Pix system follows similar principles, as do comparable approaches adopted by central banks in Ghana and Sri Lanka. The question today is not whether enshittification can be stopped, but why regulators in Canada, the US, and elsewhere choose not to stop it."
https://third-bit.com/2026/05/21/enshittification/