India to enforce a cap so no single payments app processes more than 30% of all UPI transactions per month from January 2021, affecting Google Pay and PhonePe
Google and Walmart have a new challenge ahead of them as they race to expand the reach of their payments apps in India: They won't be permitted to grow beyond a limit.
TechCrunch Manish Singh
Related Coverage
- WhatsApp gets approval to launch payments feature in India Reuters · Sudarshan Varadhan
- After two years in test mode, WhatsApp Pay finally launches in India The Next Web · Ivan Mehta
- NPCI introduces market share cap of 30% on UPI players MediaNama · Advait Palepu
- WhatsApp is rolling out peer-to-peer payments in India Android Police · Manuel Vonau
- WhatsApp Pay rolls out in India - but there is a caveat TechRadar · Balakumar K
- WhatsApp gets green light to launch payments service in India Financial Times
- Send Payments in India With WhatsApp About Facebook
- WhatsApp finally begins rolling out payment service in India The Verge · James Vincent
- WhatsApp Partners with Indian Banks to Let Users Transact Cash Easily coinspeaker.com · Steve Muchoki
- Users can now send money through WhatsApp in India's massive digital payments market CNBC · Saheli Roy Choudhury
- Facebook's WhatsApp to roll out in-app payments feature in India Tech in Asia · Miguel Cordon
- WhatsApp kicks off payments service in India CNET · Sareena Dayaram
- You can now send money through WhatsApp in India MSPoweruser · Pradeep
- Facebook's WhatsApp Gets Green Light to Expand Mobile Payments in India Wall Street Journal · Newley Purnell
- WhatsApp finally rolls out payments in India Android Authority · Adamya Sharma
- NPCI allows WhatsApp to roll out UPI services in a graded manner MediaNama · Advait Palepu
- WhatsApp Pay starts rolling out to more users in India XDA Developers · Pranob Mehrotra
- WhatsApp Payments feature finally made available in India Gizchina · Sukhraj Singh
- Facebook CEO says he is ‘excited’ that WhatsApp has received nod for India launch The Economic Times · Anumeha Chaturvedi
Discussion
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@ashwin_et
Ashwin Manikandan
on x
Scathing criticism from @GooglePayIndia on @NPCI_NPCI move to restrict market share on UPI to 30% ahead of giving nod for #WhatsApp. The move will impact millions and could impact the adoption of UPI and India's goal of financial inclusion, it says in a statement. @ETtech
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@techcrunch
@techcrunch
on x
Google's statement: “This announcement has come as a surprise and has implications for hundreds of millions of users who use UPI for their daily payments and could impact the further adoption of UPI and the end goal of financial inclusion.” https://techcrunch.com/...
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@wadhwa
Vivek Wadhwa
on x
Very short-sighted for the Indian government to allow this. It just open up a Pandora's Box. Zuckerberg is evil in every country. https://twitter.com/...
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@the_hindu
@the_hindu
on x
‘We are working with five leading banks in India: ICICI Bank, HDFC Bank, Axis Bank, the State Bank of India, and Jio Payments Bank. People can send money on WhatsApp to anyone using a UPI-supported app,’ according to a blogpost https://www.thehindu.com/... #WhatsAppPay
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@pankajontech
Pankaj Mishra
on x
WhatsApp finally gets to do payments in India, get closer to being a SuperApp https://blog.whatsapp.com/...
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@adrivalue
Adrin Hernndez
on x
$FB WhatsApp receives permit to expand its payments service in India from 1 to 20 million users P.S.: India's mobile payments market is estimated to reach $1 trillion by 2023 💰 https://techcrunch.com/...
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@sarthakgh
Sar Haribhakti
on x
Woah This took more than 2 years! https://techcrunch.com/...