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India delays rules to cap UPI market share in relief for PhonePe, Google Pay

India delays rules to cap UPI market share in relief for PhonePe, Google Pay

FILE PHOTO: QR codes of digital payment firms PhonePe and Paytm are seen on the counter of a grocery store in Ahmedabad, India, February 5, 2024. REUTERS/Amit Dave/File Photo

India on Tuesday delayed the implementation of market share caps for a popular digital payments method by two years, a move that will benefit Google Pay and Walmart-backed PhonePe.

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