Good news for PhonePe and Google Pay AsNPCI extends the deadline for the UPI volume cap

The deadline for setting a 30% volume cap for TPAPs in UPI was extended by two years on Friday by the
National Payments Corporation of India (NPCI), which manages the UPI digital pipeline. The new date is
now December 31, 2024.
TPAPs stand for third-party app providers. There isn’t a volume limit right now.
Players using the Unified Payments Interface (UPI), like as Google Pay and PhonePe, who hold a
combined market share of around 80%, should find this to be a comfort.

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