Unified Payments Interface: Difference between revisions

[[PhonePe]] made a formal request to NPCI to defer 30% market cap deadline from January 2023 to January 2026. NPCI is discussing this issue with RBI and Government. Industry stakeholders want to do away with 30% market cap proposed by NPCI, instead want organic growth based on customer demand. Implementation is another contentious issue since it results in blocking existing users from performing payment to maintain 30% market cap which is not feasible from business point of view. RBI also started looking for solutions to fix the duopoly situation created by [[Google Pay (mobile app)|Google Pay]] and PhonePe.<ref>{{Cite news |last1=Mishra |first1=Digbijay |last2=Bhalla |first2=Tarush |date=20 September 2022 |title=NPCI pings govt, industry on UPI market share cap |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/technology/npci-pings-govt-industry-on-upi-market-share-cap/articleshow/94310588.cms |access-date=2022-09-20 |archive-date=20 September 2022 |archive-url=https://web.archive.org/web/20220920013706/https://economictimes.indiatimes.com/tech/technology/npci-pings-govt-industry-on-upi-market-share-cap/articleshow/94310588.cms |url-status=live }}</ref> Both the players will get two additional years till 31 December 2024 to fix their market cap.<ref>{{Cite web |last=Iyer |first=Priyanka |date=2 December 2022 |title=NPCI extends UPI market cap deadline to December 31, 2024, in a relief to PhonePe, Google Pay |url=https://www.moneycontrol.com/news/business/announcements/in-a-relief-to-phonepe-google-pay-npci-extends-upi-market-cap-deadline-to-december-2024-9641271.html |access-date=2022-12-02 |website=Moneycontrol |language=en |archive-date=2 December 2022 |archive-url=https://web.archive.org/web/20221202181531/https://www.moneycontrol.com/news/business/announcements/in-a-relief-to-phonepe-google-pay-npci-extends-upi-market-cap-deadline-to-december-2024-9641271.html |url-status=live }}</ref>

== Acceptance ==