Top UPI players stare at uncertain future over 30% cap in market share

When an app breaches 30 per cent market share by volume, NPCI will ask third party apps to stop onboarding of new customers.

The clock is ticking for top players in the unified payment interface (UPI) space. Digital firms PhonePe and Google Pay are neck and neck at 41 per cent and 37 per cent volume of transactions on UPI, according to industry estimates. Also, Paytm claims to have 30 per cent more transactions than other UPI-only apps (like PhonePe and Google Pay). These figures are a challenge for these rival companies ahead of the deadline to enforce a 30 per cent cap in market share.
 
Industry sources said there was no clarity on how the 30 per cent cap mandated by