NPCI eyes a more evenly sliced UPI pie
economictimes.indiatimes.comNPCI) is looking at ways to stabilise market share dynamics on the Unified Payments Interface (UPI), and has called a meeting of third-party application players on Tuesday to discuss this, according to multiple people in the know.
It operates the popular digital payment channel.
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Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitMITMIT Technology Leadership and InnovationVisit“NPCI has called top executives of all major payment apps,” said one person. “While there is no fixed agenda we know of, we were told conversations will be around finding ways to push UPI apps (other than market leaders) to increase their market share.”
Last month’s regulatory crackdown on Paytm Payments Bank could see the number three player ceding user volume to the frontrunners, further tilting the market in their favour. Walmart-backed PhonePe and Google Pay already control more than 80% of the UPI market between them, while Paytm has under 12%. Fintech platform Cred is a distant fourth on the leaderboard.
A senior industry executive said the top two could benefit, in which case “market dynamics could get skewed even further, which will be a major concern in terms of concentration risks.”
Also read | Paytm crisis brings 30% market share cap plan back in focus
NPCI did not respond to an email seeking comment.
The retail payments body has
