India Delays Rules to Break PhonePe-Google Pay Duopoly Again

India has once again postponed plans to curb the dominance of major tech companies in the country's digital payments system. The deadline for implementing a 30% cap on any single app's UPI transaction share has been pushed back to December 31, 2026. This provides relief to PhonePe and Google Pay, which together control over 85% of UPI transactions. The regulator cited concerns about disrupting service for millions of users. The delay also marks another setback in India's efforts to rein in the power of global tech giants in its burgeoning digital economy. The initial proposal was made in 2020.