Google, Walmart payment apps may face regulatory hurdles in India

Google and Walmart, payment apps will have to face a regulatory challenge in India, as they won’t be permitted to grow beyond a limit from Jan 2021. NPCI said that it will enforce a cap to ensure that no single payments app processes over 30% of UPI transactions in a month. Both Google and Walmart, each, process over 35% of UPI transactions each. The move, as per NPCI, is intended to “protecting the UPI ecosystem as it further scales up.”

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