In a move that will bring relief to apps providing UPI services, the National Payments Corporation of India (NPCI) has extended by two years the deadline for third-party application providers (TPAPs) to comply with limits on UPI transaction volumes processed by them. The retail payments regulator also eased restrictions on WhatsApp Pay and allowed it to extend its services to all its users.
"Considering various factors, the timeline for compliance of existing TPAPs who are exceeding the volume cap, is extended by two years till December 31, 2026," NPCI said in a circular issued on Tuesday.
NPCI had earlier said that no UPI (unified payments interface) app could account for more than 30% of UPI transaction volumes, but the deadline for TPAPs to comply with this limit has now been extended twice already.
This story is from the January 01, 2025 edition of Mint New Delhi.
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This story is from the January 01, 2025 edition of Mint New Delhi.
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