Friday, 24 March, 2023

UPI's 30% market cap guidelines to get deferred to next year

<p>The NPCI, is considering extending the Jan 2023 deadline for its 30% market cap on third-party apps that provide UPI. PhonePe and Google Pay alone currently control over 80% of the UPI market. The TPAP standards aim to prohibit monopoly by capping market capitalisation at 30%. The policy was first announced in Nov 2020, with a Jan 2021 deadline. The deadline has to be postponed for another year due to NPCI&#39;s inability to meet it.</p>