UPI payment apps such as Google Pay, PhonePe, Paytm, and others may soon impose a transaction limit. Users may soon be unable to make unlimited payments through UPI payment apps.
The National Payments Corporation of India (NPCI), which operates the UPI digital pipeline, is in talks with the Reserve Bank about implementing the Reserve Bank’s proposed December 31 deadline for limiting player volume to 30%. There is no volume cap at the moment, and Google Pay and PhonePe account for roughly 80% of the market. In order to avoid concentration risk in November 2022, NPCI proposed a 30 per cent volume cap for third-party app providers (TPAP).
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UPI payment apps such as Google Pay, PhonePe, Paytm, and others may soon impose a transaction limit. Users may soon be unable to make unlimited payments through UPI payment apps.
The National Payments Corporation of India (NPCI), which operates the UPI digital pipeline, is in talks with the Reserve Bank about implementing the Reserve Bank’s proposed December 31 deadline for limiting player volume to 30%. There is no volume cap at the moment, and Google Pay and PhonePe account for roughly 80% of the market. In order to avoid concentration risk in November 2022, NPCI proposed a 30 per cent volume cap for third-party app providers (TPAP).
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
