It has come as a surprise: Google Pay on NPCI's 30% cap on UPI transactions
The National Payments Corporation of India has decided to impose a cap on the share of Unified Payment Interface transactions that a single payment application can process. In a statement on Thursday, NPCI said that third party applications providing payments services via UPI can process a maximum of 30% of the transaction volumes starting Jan. 1, 2021. The 30% cap will be calculated on the basis of the total volume of transactions processed in UPI during the preceding three months on a rolling basis. The cap kicks in from Jan. 1, 2021. Any third party application which exceeds the cap as on Jan. 1, 2021 will have to meet it within two years, in a phased manner.