 "UPI")
In a major relief to payment firms like 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
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