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PhonePe-Google pay transaction limit is going to be fixed

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Realtime payment is done through UPI Payment

Unified Payments Interface (UPI) is a real time payment method. With the facility of this method, any person can make payment from one bank to another very easily. Through the mobile app, customers can send money from one bank to another bank account. It is a quick and easy method of making payments. The government monitors payments made through UPI.

Plan is being made to reduce monopoly risk

There is no volume cap prescribed for doing money transactions through UPI. Today Google Pay and PhonePe’s UPI have 80 percent of the market in the Indian market. NPCI had proposed a 30 percent volume cap earlier this month to reduce the concentration risk ie monopoly risk. NPCI is in talks with RBI to fix the volume cap limit.

There is no idea to extend the deadline

NPCI had held a meeting to consider all aspects for fixing 30 per cent volume cap for UPI. Apart from the officials of NPCI, the officials of Ministry of Finance and RBI also participated in this meeting. According to the news of Economic Times, NPCI is evaluating all possibilities. NPCI had set a deadline of 31 December for this, which it is not considering to extend.

Decision can be taken in this month

On the issue of volume cap, NPCI is refusing to extend the deadline. The organization is working on other aspects of Market Cap Lagan. According to reports, NPCI may take a decision on the subject of market cap implementation this month itself.

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