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NPCI to delay payments market cap, helping Walmart-backed PhonePe, Google Pay

Economic Times · 1y

India will extend the deadline for implementing caps on market share for digital payments services like Google Pay and PhonePe, according to sources. The National Payments Corporation of India (NPCI) will give an additional two-year extension to the year-end deadline to cap the market share at 30%. PhonePe's market share has increased to 48.3%, while Google Pay's has declined to 37.4%. The two platforms processed a combined 11.5 billion transactions in April. NPCI had originally announced the 30% cap in 2020 but later extended it to the end of 2024.