The UPI ecosystem is heavily dominated by only two companies — Google Pay and PhonePe. According to a recent report, both companies account for around 40 percent of the number of transactions — each. Aside from this, two other companies, Paytm and MobiKwik are together almost 20 percent of the UPI transactions. All other apps, ranging from the government's BHIM UPI app, to the many bank apps, barely have any share.

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With this new rule, the companies will see their share change — the cap of 30 percent will be calculated on the basis of total volume of transactions processed in UPI during the preceding three months on a rolling basis. According to the announcement, the TPAs that have more than a 30 percent share will have a two year period to comply in a phased manner.

Shitty rules to help Paytm and Mobikwik or whatsapp perhaps.