The payments body has said no single app like Google Pay or PhonePe can hold over 30% of the market. How will that work?
Last Thursday night, the National Payments Corporation of India released two back-to-back announcements about the Unified Payments Interface, or UPI, its instantaneous bank-to-bank payments system.
Announcement No. 1: NPCI has finally given approval for WhatsApp to “go live” on UPI. The Facebook-owned messaging app can expand its UPI payments user base in a “graded manner”, with an initial user limit of 20 million.
Announcement No. 2: NPCI said that with UPI reaching 2 billion transactions a month, and with potential for future growth, it was putting in place a limit on the market share of any third-party UPI app. No …
Arti is a former writer at The Morning Context. She previously worked with publications such as ET Prime, VCCircle, Firstpost and EETimes. Arti has keenly tracked the evolution of financial technology in India and written some of the defining pieces on the ecosystem as it birthed and matured. Even when not writing about it, she loves to dissect the revenue models, margins and regulations that are shaping the sector.
artisingh@mailtmc.com