Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / NPCI may raise market share cap for UPI payment operators
    Summarize
    Next Article
    NPCI may raise market share cap for UPI payment operators
    NPCI considers raising UPI market share cap from 30% to over 40%

    NPCI may raise market share cap for UPI payment operators

    By Mudit Dube
    Sep 19, 2024
    01:50 pm

    What's the story

    The National Payments Corporation of India (NPCI), the regulatory body responsible for overseeing India's Unified Payments Interface (UPI) system, is reportedly considering a revision of its proposed market share cap for UPI operators.

    This potential policy shift could see the cap increased from 30% to over 40%, according to anonymous sources cited by TechCrunch.

    The move is being contemplated due to difficulties in enforcing the current limitations.

    Market overview

    UPI's dominance in India's digital payment sector

    UPI has emerged as the most popular method for digital transactions in India, processing over 12 billion transactions monthly.

    Walmart-backed PhonePe currently dominates the market with approximately 48% share by volume and 50% by value.

    Google Pay follows closely behind with a 37.3% share by volume.

    However, Paytm's market share has seen a decline from 11% to 7.2%, amid regulatory challenges.

    You're
    33%
    through

    Regulatory hurdles

    Potential controversy and enforcement challenges

    The proposed increase in market share cap could stir controversy, as several UPI providers have expressed hopes for regulatory intervention to check the dominance of PhonePe and Google Pay.

    The NPCI initially planned to implement these market share limits in January 2021, but postponed the deadline to January 1, 2025, due to enforcement challenges.

    The regulator has yet to find a practical way to enforce its proposed market share limit.

    You're
    66%
    through

    IPO concerns

    PhonePe's future and regulatory uncertainty

    The potential policy change holds significant implications for PhonePe, India's most valuable fintech start-up valued at $12 billion.

    Sameer Nigam, co-founder and CEO of PhonePe, expressed concerns about the company's ability to go public amid regulatory uncertainties.

    He stated at a recent fintech conference that the start-up cannot go public "if there is uncertainty on the regulatory side."

    Done!
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Fintech
    National Payments Corporation of India
    PhonePe

    Latest

    Anurag Kashyap 'couldn't afford' daughter's wedding until Sethupathi's 'Maharaja' happened Abhishek Bachchan
    Modi meets top defense officials ahead of India-Pakistan military-level talks   Ajit Doval
    When did India last play a Test sans Rohit-Kohli?  KL Rahul
    Trade war de-escalation: US and China agree to cut tariffs  China

    Fintech

    MobiKwik may get $100 million funding from BlackRock and others India
    Flipkart eyes new avenues, entry in Fintech, more tech hires India
    Central task force on AI recommends setting up of N-AIM India
    Want to make Mumbai a financial technology hub: CM Fadnavis India

    National Payments Corporation of India

    Can someone access your bank account using your Aadhaar number Aadhaar Card
    Paytm Wallet now acceptable on all UPI QRs, online merchants Paytm
    Interchange fee on UPI: How this will affect you Unified Payments Interface (UPI)
    Your UPI account will soon work like a credit card Reserve Bank Of India (RBI)

    PhonePe

    New WhatsApp features: Increased group limit to WhatsApp Pay cashback WhatsApp
    Indian start-ups that are hiring despite layoff season Cybersecurity
    Walmart-backed PhonePe launches Pincode app in e-commerce push Flipkart
    PhonePe's localized app store to challenge Google's dominance: Here's how Google
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025