India’s FinTech Body Flags UPI Market Dominance
Hey Payments Fanatic!
The India Fintech Foundation (IFF) has raised the alarm over mounting concentration in India’s Unified Payments Interface (UPI) system.
According to a recent letter to the Finance Ministry, more than 80% of UPI transaction volumes are processed by just two third‑party app providers.
The FinTech trade body is urging policymakers to introduce measures to prevent systemic concentration and ensure fair competition within India’s digital payments channel.
Among the proposals are a cap on incentive payouts for any single app provider and stricter oversight of market dominance.
The goal is to safeguard innovation and keep the ecosystem healthy for smaller players.
India’s UPI platform has become a global benchmark for instant payments, but these findings suggest its next chapter may involve tougher regulatory guardrails.
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Cheers,
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