NPCI. RBI. UPI. Google Pay. Phonepe. NPCI latest news
UPI has made the lives of humans so easy for payment, by UPI one can easily pay the bill of a shopkeeper by scanning the QR . But in the Indian market only 2-3 apps are mainly used by the people . Considering the monopoly of these UPI payment apps , NPCI along with RBI are coming with new policies.
Google Pay and Phone Pay these two apps have captured almost 80% of UPI payment market, for this reason no other apps enter into the market and they didn’t get a chance for their growth.
In a meeting of NPCI ( National Payments Corporation Of India) with the Finance Ministry and RBI they have taken a decision that 30% of the payment will go through the third party apps in total transaction of UPI.
RBI and NPCI said that the government removed the charges of UPI payment so that people use only those payment methods whose brand value was already established .
By taking such steps new Tech Start-ups will get the opportunity to take part in the payment industry.
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