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UPI apps PhonePe, Google Pay may get more time to adhere to 30% share cap

NPCI may extend the deadline for its mandate requiring UPI payment apps to hold no more than 30% market share.

What's the news? The National Payments Corporation of India (NPCI) may extend the deadline for its mandate requiring UPI payment apps to hold no more than 30% market share, Economic Times reported on June 6. The current deadline is January 2023. Why? As of April 2022, PhonePe and Google Pay hold about 47% and 34% market share. Making them scale back…

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