This is the third time that the NPCI has extended the deadline."Considering various factors, the timeline for compliance of existing third-party application providers (TPAPs) who are exceeding the volume cap, is extended two years i.e., till December 2026," NPCI said in a circular issued on Tuesday.This is the second such extension for the market cap deadline.Initially introduced in November 2020 to prevent market dominance by any single player, the NPCI plans to cap the market share of TPAPs to 30%. While the proposal had an initial deadline of December 31, 2022, it was later extended to December 31, 2024.The move will come as a relief for PhonePe and Google Pay, who continue to dominate the UPI payments landscape and currently have more than 30% market share each.Earlier this year, it was reported that implementation of the 30% market share cap on UPI apps was unlikely to come into effect.Meanwhile, in a move that would increase the competition for the leading UPI players, the NPCI has lifted the cap on user onboarding for WhatsApp Pay.This will allow the Meta-owned platform to offer UPI services to its entire user base in India.Previously, WhatsApp Pay was allowed to onboard users in phases.

NPCI Extends Market Cap Deadline for UPI Apps for Another Two Years Till 2026

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 9,000+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.