NPCI extends market cap deadline for UPI apps by two years to end of 2026
The National Payments Corporation of India (NPCI) has extended the deadline for implementing transaction volume cap on Unified Payments Interface (UPI) apps by two years till December 31, 2026. This is the second time that the NPCI has extended this deadline.
The latest development is expected to provide a much-needed relief to market leaders PhonePe and Google Pay, which process the lion’s share of UPI transactions in the country. The two processed about 47.8 per cent and 37.02 per cent of UPI transaction volumes, respectively, in November, according to data published by NPCI.
