The 30% market share cap on UPI apps is unlikely to be implemented with only a few months remaining before the deadline
The government is yet to officially inform the National Payments Corporation of India (NPCI) of its stance on the proposed cap
The NPCI first proposed a 30% market cap for third-party app providers in November 2020, with the deadline extended from December 2022 to December 2024
Implementation of a 30% market share cap on the Unified Payments Interface (UPI) apps is unlikely to come into effect with just a few months left before the deadline.
As per an ET report, industry experts have indicated that several new entrants to the UPI market have been informally told that the 30% market share cap might not be implemented. Consequently, these companies are revising their growth and investment strategies.