India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Digital Marketing Agency In Chandigarh Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration. The National Payments Corporation of India (NPCI), the quasi-regulator, will extend by as much as two years a year-end deadline to cap at 30 percent the market share of any company Digital Marketing Agency In Chandigarh processing payments via the Unified Payment Interface (UPI), the sources with direct knowledge of the matter told Reuters.

PhonePe’s share of UPI payments has risen to 48.3 percent from 37 percent in April 2020, while Google Pay’s share has declined Digital Marketing Agency In Chandigarh to 37.4 percent from 44 percent, according to NPCI data. The two processed a combined 11.5 billion transactions in April, the data showed.

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