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NPCI publishes UPI market share data, yet to consult players on 30% cap

PhonePe, Paytm, digital payments

The National Payments Corporation of India (NPCI) has released app-wise data for companies and banks providing Unified Payment Interface (UPI), which show that Google Pay and PhonePe had a combined market share of 82% in volume terms and 86% in value terms during the month of November 2020. So far, the NPCI has released data on bank performance. This is the first time that the umbrella organisation for retail payments has released UPI app performance data. Last month, the NPCI said that it would introduce guidelines that place a market share cap of 30% on third-party apps on the UPI network, to “address the risks and protect the UPI ecosystem. Transactions on the UPI platform grew by 106% YoY to ₹3.9 lakh crore in November this year, compared to a little over ₹1.89 lakh crore in the same month last…

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