Amazon, Meta, CRED, MobiKwik, and Flipkart's Super.money met with the National Payments Corporation of India on April 30 to press for enforcement of the 30 percent market share cap on UPI applications. PhonePe processed 10.50 billion transactions in March 2026, capturing 46.4 percent of total UPI volume. Google Pay handled approximately 7.5 billion transactions, holding 33.2 percent.
NPCI introduced the cap in 2021 but has deferred enforcement four times, with the current deadline set for December 31, 2026. The coalition raised concerns about unequal access to UPI features including autopay and payment mandates, and the use of contact data by leading apps to acquire users.