UPI apps may get more time to adhere to 30% cap on market share

Bengaluru: The National Payments Corporation of India (NPCI), which enables the country’s digital payment and settlement systems, may extend the deadline for its contentious mandate requiring payment apps to hold no more than 30% market share, people aware of the development told ET. The current deadline is January 2023.

“There is no choice but to consider this actively. They (NPCI) are wary of disrupting users and in effect slowing down UPI growth,” said a person aware of the discussions.