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.

In June it had reported 37.8% market share by value and 35.3% share by volume. Note that NPCI requires the third party apps to enforce 30% share by volume by January 2023.

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 ...

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 ...

Level 2: If the UPI app’s market share is between 27.1-30%, a second alert will be sent to the app and the bank, and they have to provide “evidence” of actions taken to comply with the ...

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 ...

In such an event, UPI apps would be required to send prospective new users the following message: “Dear user, as per NPCI rules any UPI app with more than 30% market share cannot onboard new ...

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%.

The National Payments Corporation of India (NPCI) may extend the deadline for its mandate requiring UPI payment apps to hold no more than 30% market share, Economic Times reported on June 6. The ...

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, ...

BHIM’s market share has fallen in last two years even as UPI grows strong.When using an app or a platform, consumers also look for other offerings such as cashbacks and user-friendliness ...

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.