In a major relief to payment firms like ( PhonePe and Google Pay, the National Payments Corporation of PhonePe and Google Pay, the . National Payments Corporation of India (NPCI) on Friday extended the volume cap deadline for third-party application providers (TPAPS) by two years, until December 31, 2024.
"Taking into account the present usage and future potential of Unified Payments Interface (UPI) and other relevant factors, the timelines for compliance of existing TPAPs which are exceeding the volume cap are extended by two years i.e. until December 31, 2024, to comply with the volume cap," said NPCI in a circular.
This has been done to preserve growth of NPCI's flagship payments platform UPI, which is touching record highs every month, in terms of both volume and value of transactions.
"The players involved had asked for a five-year extension of the market cap deadline and a review of the decision to impose market caps, but as of now the decision stays," said a person aware of the development.
هذه القصة مأخوذة من طبعة December 03, 2022 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة December 03, 2022 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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