Friday, 24 March, 2023

Companies are Divided by UPI Market Share Cap Imposed

<p>Centre would not intervene in the dispute over competing claims made by India&#39;s main payment merchants over the imposition of a 30 percent cap on the market share of apps using a Unified Payment Interface (UPI). Market giants PhonePe and Google Pay individually addressed NPC, which manages UPI, and requested to prolong the deadline by at least three more years, despite the fact that Paytm, a third-tier payments service, &quot;believes that the market cap should be applied.&quot;</p>