In a statement on Thursday, NPCI said that third party applications providing payments services via UPI can process a maximum of 30% of the transaction volumes starting Jan. 1, 2021. The 30% cap will be calculated on the basis of the total volume of transactions processed in UPI during the preceding three months on a rolling basis.
(Bloomberg Quint, November 5)
Arushi Chawla's key takeaways:
- The of intention of setting market share upper limits is to protect consumers by setting up a more robust UPI ecosystem.
- WhatsApp Pay stands to benefit over the short term as it plays catchup to incumbents Google Pay and PhonePe, which are estimated to control 80% of the market.