NPCI Announces 30 Percent Cap for Third Party UPI Apps Like Google Pay, PhonePe

first_img– Advertisement – ALSO SEE: WhatsApp Pay gets green signal from NPCIWith 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.It’s not clear what will happen if a company hits a cap — whether it would be allowed to carry out further transactions at that point in time, or whether it would have to stop. This means that if you’re using a popular TPA like Google Pay or PhonePe, would this lead to more failed transactions? At present, this is not certain. WhatsApp is another contender in this space which has been waiting in the wings for permissions, and it has now been given permission by the NPCI to go ahead with its rollout.- Advertisement – The National Payments Corporation of India (NPCI) has set a cap of 30% on total volume of UPI transactions processed by Third Party App (TPA) providers, which will come into place from January 2021. UPI — the Unified Payments Interface — has exceeded two billion transactions, according to the NPCI, with TPAs like Google Pay and PhonePe accounting for the majority of this figure. Now, the NPCI has put a cap on the proportion of transactions that a single company can process, in order to “address the risks and protect the UPI ecosystem as it further scales up,” the NPCI wrote. This will largely affect Google Pay and PhonePe, and present an opportunity for others such as Paytm and MobiKwik. There are also concerns that by capping the number of transactions a company can do in a month, it might lead to greater failure rates of transactions.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.- Advertisement –center_img WhatsApp Pay has now been given permission to expand its users in a phased manner, with a maximum user base of up to 20 million users. To compare, PhonePe recently announced that it has hit the 250 million user mark.Why are smartphone prices rising in India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.last_img read more

No. 11 Towson’s faceoff specialist Alex Woodall to play crucial role against No. 2 Syracuse in NCAA quarterfinals

first_img Facebook Twitter Google+ Published on May 18, 2017 at 8:41 pm Contact Billy: | @Wheyen3 Since Alex Woodall was in seventh grade, his job on the lacrosse field has been to win the faceoff and run off the field.“I kind of just got jealous,” Woodall said of the time. “I wanted to take (the faceoffs) all myself, so I went to my coach, and just dedicated my time to that … The thrill of starting off a game after each quarter or after a goal, all eyes on you… Really just helping out your team in a different way other than scoring goals.”He concentrated on making the most of those moments at the faceoff X — and taking all of them.“Alex,” his mother, Aracelly Woodall, quipped, “why am I paying all this money for you to be just one second in the field?”The faceoff specialist in his first year at No. 11 Towson (11-4, 4-1 Colonial Athletic) looks to continue his season-long domination of the faceoff X against No. 2 Syracuse (13-2, 4-0 Atlantic Coast) on Sunday in the NCAA quarterfinals at Delaware Stadium in Newark, Delaware.AdvertisementThis is placeholder textWoodall enters the game ranked ninth in the country in faceoff win percentage, at 60.9 percent and faces a formidable counterpart in Syracuse’s faceoff specialist, Ben Williams, historically one of the best in the nation. This season, Williams ranks 28th in the country for winning percentage on faceoffs at 54.1.Their two paths to the Round of 16 exhibit their opposite fortunes this season. Woodall won 7-of-13 faceoffs in Towson’s 12-8 victory over Penn State. Williams, whose season has been marred by inconsistency, only went 1-of-12 in Syracuse’s nail-biting win over Yale, 11-10.Towson head coach Shawn Nadelen acknowledged Williams’ recent decline in productivity and suspected that his most recent performance was an aberration.To simulate what Woodall might see Sunday, Towson spent time throughout the week pitting Woodall against his backups. Connor Harryman, one of them, simulated Williams’ tendencies at the faceoff X seen during Wednesday’s film session. While Harryman knew he’s not the perfect replication of the Orange’s top guy, he said that Woodall has one “God-given” ability on his side.“He has a natural hand speed which not a lot of people can compete against,” Harryman said. “But he practices just like any other faceoff guy … He’s just always had the natural ability that not many people are given.”During last week’s matchup with Penn State, Woodall injured his leg and watched from the sideline as Harryman took the reps in the second half. SU head coach John Desko even noted the injury during the press conference after SU’s Yale game, but Nadelen said that Woodall “had a smile on his face” on Monday, and that there were no real worries.If not for a desire to play closer to home, Woodall wouldn’t have ended up at Towson. Out of St. Mary’s (Maryland) High School, Woodall enrolled at High Point and played one season there as the team’s top faceoff man. But at Towson, a program that had been interested in the faceoff specialist since high school, Woodall had opportunity. Both to be closer to his hometown of Annapolis, Maryland and to help a lacrosse team not even a decade old.“I felt that at Towson, there was a little bit more to play for,” Woodall said. “Which I thought would make my career better, just give me more motivation.“Playing for a school in Baltimore, where I grew up, would mean more to me.”Woodall was not in uniform for Towson’s NCAA quarterfinal loss to Loyola last year. In that game, the Tigers tried three different players at the faceoff X, finishing a combined 7-of-22.Now, to defeat the Orange and prevent his team from losing in two straight quarterfinals, Woodall’s success is vital. Woodall can’t anticipate how many faceoffs he’ll take in the fourth quarter against Syracuse on Sunday, but he knows there will be at least one to open the last frame. Seven years after embracing his identity as a faceoff specialist, Woodall will try and win just one more.“I can’t lie, it does get in my head (if I’m struggling),” Woodall said. “If we’re being honest, it does definitely make us all mad, waiting on the sideline ready to get ours first.” Commentslast_img read more

Clear Lake couple named first runner-up in this years National Small Business Person of the Year contest

first_imgWASHINGTON DC — A couple from Clear Lake has been honored as the first runner-up in this year’s National Small Business Person of the Year contest.Brad and Angie Barber of Cabin Coffee Company were honored on Monday by the U. S. Small Business Administration at their annual National Small Business Week ceremony. The Barbers opened their first Cabin Coffee location in 2002 and grew the company to sales of $5.5 million and a staff of 140 by 2017.They received a Small Business Administration loan to open their second location in Mason City in 2009 and got another loan in 2017 that helped cover construction costs for their new distribution and franchise support center in Clear Lake. There are now 15 Cabin Coffee franchise locations throughout the United States.This year’s National Small Business Person of the Year award went to Jeff and Jennifer Herbert of Superstition Meadery in Prescott Arizona.last_img read more