UPI firms say volume cap to hit biz; NPCI calls it a bid to curb dominance

The move to cap the share of transactions a third-party application can process — at 30 per cent of the total volume in Unified Payments Interface (UPI) by the National Payment Corporation of India (NPCI) — has not gone down well with industry players.

Most have expressed surprise over the move, saying it could have implications on millions of people who use UPI for their daily payments.

But, industry insiders suggest that this is aimed at bringing a balance in the UPI ecosystem, which is dominated by a few large players. Furthermore, entry of the newest player WhatsApp into the system, which