NPCI taxes 30% cap on transaction volumes through UPI for third party apps
National Payments Corporation of India (NPCI) has taken a decision to impose a cap of 30 per cent of transactions which will be completed in UPI on Third-Party App Provider (TPAP).
- the decision will come into effect from 1st January 2021. TPAPs will be given a period of two years those’s limit exceeds.
- moreover, WhatsApp Pay is included and will be applicable for 30% cap from January 2021.
- NPCI website has shown 21 third party applications: Amazon, Whatsapp, Samsung and Google are also included.
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