![]() How does Google Pay plan to introduce monetization on its platform? Is lending an opportunity for Google?Ĭredit is superly under-penetrated. You spoke about sustainability of the UPI ecosystem. (Last November, NPCI, which operates UPI, decided to impose a market cap, where payments firms can process a maximum of 30% of UPI transaction volumes in the preceding three months.) The piece we are concerned about is that once it (market cap) gets applied, users should not be impacted. So, right now there is a plan being put in place, where we work with NCPI and others once the market cap kicks in. The way it (market cap) is designed, there is time before it applies. Will you be bringing down your market share to meet NPCI norms? (MDR is the percentage charged to merchants by payments firms for processing digital payments). But we need to make it (UPI) more sustainable and find ways as we want to figure this out. So, I do not know whether we will evolve with MDR, or in any other way. India has always innovated and leapfrogged. There are various ways, and I think it’s hard to say whether MDR is the right way of doing it or if there are other means. ![]() On the question of sustainability, I definitely think that we need to make the (UPI) ecosystem sustainable. And, it’s very early, so we want to make sure there is enough competition and that’s a good thing. ![]() On market cap, we have always stood for competition.
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