In a move that will bring relief to apps providing UPI services, the National Payments Corporation of India (NPCI) has extended by two years the deadline for third-party application providers (TPAPs) to comply with limits on UPI transaction volumes processed by them. The retail payments regulator also eased restrictions on WhatsApp Pay and allowed it to extend its services to all its users.
"Considering various factors, the timeline for compliance of existing TPAPs who are exceeding the volume cap, is extended by two years till December 31, 2026," NPCI said in a circular issued on Tuesday.
NPCI had earlier said that no UPI (unified payments interface) app could account for more than 30% of UPI transaction volumes, but the deadline for TPAPs to comply with this limit has now been extended twice already.
This story is from the January 01, 2025 edition of Mint New Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 01, 2025 edition of Mint New Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Now, tech tools to test cortisol, soothe anxiety
A range of tech tools for mental health will be showcased at CES '25 in Vegas
This Could Be The Best Core Exercise You've Never Done
A modification of the Zercher squat, the 'ab squat' is a dynamic workout that completely engages your core
For a balanced life, take the heroine's journey
Living a life not attuned to nature's cycles can affect the body and cause digestive issues as well as mental stress
AIF industry: At risk of death by a thousand circulars
Alternative investment funds generate value but have been dealt a harsh blow by over-regulation
Welfare Programmes Impact the Retail Prices Relevant to People
India must update its inflation metrics to reflect actual consumption expenditure patterns for superior policy formulation
Expect Trump's Crackdown on Immigration to be Disruptive
He is far better placed to act swiftly and harshly this time around
Tweaked for flexibility, NPS awaits tax clarity
This funded pension scheme now offers access to low-cost fund management with its option of staggered withdrawals of what was once a lump-sum. Good. Let's keep its taxation benign
Rupee depreciation is inevitable but its volatility is not
RBI should restrain its active forex management while the Centre aims to attract more dollars
Ten big GenAI developments we saw within the span of a month
Its evolution didn't even pause for a year-end break as the AI wave began turning into a tsunami
Simplifying Taxes: Key Challenges for Budget 2025
The focus is on how the Centre overhauls the new tax regime to attract more taxpayers
