Amazon and Meta are set to challenge the dominance of PhonePe and Google Pay in India's instant payments network. According to TechCrunch, the two tech giants will meet with the National Payments Corporation of India (NPCI) today.

The meeting comes over a year after India postponed plans to cap UPI apps' market share at 30% until December 31, 2026, a move that would have restricted any single app's share of UPI transactions.