India Considers Easing Market Share Limits for UPI Payment Operators

The governing body for India's UPI payments is considering easing market share caps for operators like Google Pay, PhonePe, and Paytm.
NPCI, a unit of India's central bank, may increase the market share limit to over 40%, up from the previously proposed 30%.
UPI processes over 12 billion transactions monthly, with PhonePe and Google Pay dominating the market.
Paytm's market share has dropped to 7.2% amid regulatory challenges.
The NCPI's move is controversial as some UPI providers hoped for stricter regulations to curb the dominance of major players.