Reported 4 days ago
India has postponed the implementation of market share caps for digital payment firms using the Unified Payments Interface (UPI) by two years, benefiting major players Google Pay and PhonePe. Originally set to take effect at the end of 2024, the new deadline is now December 2026, allowing these companies, which hold significant shares of UPI transactions, to continue their growth without restrictions. This decision aims to foster the UPI ecosystem while giving space to emerging competitors.
Source: YAHOO