Synopsis
Smaller third-party UPI players are set to propose new curbs on market leaders like PhonePe, Google Pay, and Paytm to the NPCI. They aim to restrict user acquisition tactics, tighten monetization rules, and democratize merchant services. These proposals come as the long-pending 30% market share cap remains unimplemented.Listen to this article in summarized format
Industry executives told ET that the meeting scheduled for Thursday will see participation from companies beyond PhonePe, Google Pay and Paytm, will see smaller firms jointly pushing proposals aimed at limiting further expansion by the top three.
Among the measures being sought are restrictions on user acquisition tactics such as non-solicitation of UPI ID mappers for both new and existing users and a ban on targeting users for app downloads based on contact book data.
