India Puts Off Rules Aimed at Breaking Dominance of PhonePe and Google Pay in Digital Payments Market

India again delays rules to break PhonePe-Google Pay duopoly

India has once again pushed back a contentious plan to limit big technology companies’ control of the nation’s digital payments system, extending a regulatory uncertainty that has weighed on the sector for years.

The National Payments Corporation of India said on Tuesday it would extend the deadline for implementing a 30% cap on any company’s share of transactions on the Unified Payments Interface (UPI), the country’s ubiquitous digital payments network.

Source: techcrunch.com