With the payments through various UPI apps fast becoming the norm of the day, regulators and even lawmakers are becoming wary of a strong duopoly in the market and that too of foreign-owned entities. As per the latest data from the National Payments Corporation of India (NPCI), which is pushing for capping the market share of each player at 30 per cent, there were more than five dozen UPI (Unified Payments Interface) apps registered in the country at the end of June 2022 and together they accounted for 5.8 billion transactions with a total value of over Rs 10 lakh crore during the month. However, the top-two players -- Walmart-owned PhonePe and Google's G-Pay -- accounted for more than 81 pe
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