Happy Tuesday! The market share cap on Unified Payments Interface (UPI) apps may not be implemented before the deadline. Details on this and more in today’s ETtech Morning Dispatch.

NPCI extends 30% market share cap on UPI apps by another two years, removes user limits for WhatsApp While NPCI's move to extend the timeline comes as a relief for PhonePe and Google Pay, ...

India Delays UPI Payments Market Share Cap in Relief for PhonePe, Google Pay. Tuesday December 31, 2024; Reuters; India has pushed back the implementation of market share caps for UPI apps like ...

A surge in new participants may not necessarily make a sizeable dent in the market share of top players, PhonePe and Google Pay, who dominate nearly 85 per cent of the country’s UPI volumes.

Bank-based apps currently contribute only 2.1% to the UPI ecosystem, highlighting the need for banks to take a more proactive and visible role. Banks have a significant opportunity to leverage their ...

Market share cap rule for UPI apps on waiting list PhonePe is the leading UPI app, with 3 billion transactions and a volume share of over 47% in July, followed by Google Pay, which recorded 2.13 ...

The National Payments Corporation of India (NPCI) has decided to extend the deadline for UPI providers to adhere to the 30% market share limit by two more years, now set for December 31, 2026.

PhonePe and Google Pay continue to dominate India's UPI ecosystem, capturing significant market share in May. PhonePe processed ₹12.56 lakh crore across 8.7 billion transactions, nearly half the ...

The extension provides them additional time to comply with the proposed market share limits. The rules, which impose a 30% volume cap on third-party UPI apps (TPAPs), do not apply to UPI apps ...

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NPCI introduced a regulation in November 2020 to restrict any individual third-party app provider's dominance in total UPI transaction volumes to a maximum of 30%.