Advertisement Over the past one year, UPI has seen exponential growth and taking home the biggest shares in the market are players like PhonePe, Paytm and Google Pay. But the growing numbers also come at a time when the National Payments Corporation of India (NPCI) is looking to cap each company’s market share in UPI. According to the NPCI’s official statement, UPI transactions on third party payment apps cannot exceed 30% of the overall volume of transactions processed in UPI during the preceding three months. While the cap will be effective from January 1, 2021, existing third party operators like Google Pay and PhonePe, who have 40% market share, have been given until 2022 to comply with the new rules.