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UPI to block all gaming transactions under Rs 50

Dealing a major blow to Indian gaming startups during the ongoing Indian Premier League (IPL) season, the National Payments Corporation of India (NPCI) is set to permanently ban all gaming transactions under Rs 50 on its popular Unified Payments Interface (UPI) channel.  The gaming industry is already exploring ways to appeal the ban. NPCI had been mulling such a ban for several weeks and had been in constant engagement with leading merchants. Real-money gaming platforms include fantasy sports platforms such as Dream11, which are based on real-life sport, competitive video gaming (esports) such as the now publicly listed Nazara technology; and single-game and multi-game platforms for card games, carrom and more, such as GetMega and Mobile Premier League. The number of OFS players is close to 100 million and real-money gamers number about 30-40 million.

Source: Economic Times


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