India's National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI) are currently deliberating over the future of unlimited transactions through popular apps like Google Pay and PhonePe. The NPCI is contemplating the implementation of a proposed volume cap for third-party app providers (TPAP), aiming to curb the dominance of certain players, particularly Google Pay and PhonePe, which currently command a significant market share. The proposed 30 per cent volume cap seeks to prevent a potential monopoly and promote a more balanced competitive landscape. Although a decision has yet to be reached, the deadline for implementation is December 31, and there are calls from some industry stakeholders to extend this date. Notably, Paytm, owned by Paytm Payments Bank Limited, will remain unaffected by the transaction cap due to its status as an NPCI-certified service provider and issuer bank. Paytm's spokesperson believes that this potential cap could be advantageous for the UPI ecosystem, fostering digital payment growth, and accessibility, and reducing market concentration risks.
Source- https://bit.ly/4414NFg

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