On November 5, NPCI placed a 30% cap on UPI transactions through third-party payment apps (TPAPs)
The move is aimed at ensuring that the UPI digital payments infrastructure doesn’t suffer overload and that few players don’t monopolise the digital payments landscape
Stakeholders of the Indian digital payments landscape feel that the move could be detrimental in terms of maintaining a comfortable user experience
With the country’s digital payments ecosystem registering a high of 2 Bn monthly transactions through the Unified Payments Interface (UPI) network last month, the focus has shifted to ensuring that the market isn’t controlled by the few big players who together hold more than 80% market share, namely Google Pay and PhonePe.
Hence, the notification by the National Payments Corporation of India (NPCI) on Thursday (November 5), which stated that January 2021 onwards,…
