Whatsapp Pay, cap on UPI double whammy for payment firmsnigam

BENGALURU : India’s digital payments firms are facing a double whammy with the launch of Whatsapp Pay and the capping of market share on Unified Payments Interface (UPI).

A day after National Payments Corporation of India (NPCI) announced a market cap of 30% for digital payment firms on UPI, market leader Google Pay said it may impact further adoption of UPI in the country.

The cap comes at a time when WhatsApp Pay launched in India on Friday after the much-awaited approval, with NPCI capping its entry at a maximum registered user base of 20 million for UPI.