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, in which players beyond PhonePe, Google Pay, and Paytm will also participate, will see the smaller firms jointly pushing proposals aimed at limiting further expansion by the top three.
Among the measures being discussed are restrictions on user acquisition tactics such as solicitation of UPI ID mappers, and a ban on targeting people for app downloads based on a user’s contact book data.
