Relief to UPI market leaders: PhonePe, GPay get 2 more years for 30% share cap rule

In a relief to UPI payments market leaders, PhonePe and Google Pay, the National Payments Corporation of India (NPCI) has extended the deadline for Unified Payments Interface (UPI) to meet the market cap deadline of 30% to December 31, 2024. The earlier deadline to meet the market cap norm was December 31, 2022.