India launches new third-party payment rules,Mexico makes final anti-dumping ruling on China's aluminium discswww.deekpay.com

## Google Pay may be hit hard by controversial new rules in India The Indian government has sparked controversy by introducing new regulations to limit the market share of third-party payment companies. According to Caixin, India's National Payments Corporation recently issued a statement that from 1 January next year, the total number of transactions carried out by third-party payment apps using its Unified Payment Interface (UPI) system cannot exceed 30% of the system's total transaction volume.The regulation will have a major impact on platforms such as Google Pay and Walmart's PhonePe. Sajith Sivanandan, head of India commerce at Google Pay, said the new regulation will have a negative impact on hundreds of millions of users and could hamper the development of e-payment systems. Currently, PhonePe accounts for over 401 TP3T of India's UPI transactions, with Google Pay close behind. The new regulations require both the companies to complete the compliance requirements within two years. Apart from Google and Walmart, new entrants to the Indian payments market such as Facebook will also be subject to the new regulations. Notably, payment platforms with digital banking licences are not affected by this regulation, such as Paytm and Reliance Industries' Jio Payments Bank. Ram Rastogi, an e-payments strategy analyst and former executive of the National Payments Corporation of India, believes that there is a risk of too much concentration of market share, and that the Indian government's move is aimed at correcting the problem. In addition to the new payments regulations, Google is currently facing at least four antitrust investigations by the Indian government. EVENT ANALYSIS: India's move aims to boost competition in the payments market, but could hamper e-payments. Companies such as Google are grappling with the challenges posed by the new regulations. ## Mexico imposes anti-dumping duties on China's aluminium discs Mexico's Ministry of Economy has issued a notice imposing an anti-dumping duty of US$1.17/kg on aluminium discs originating in China. The decision stems from the application of Mexican enterprise Almexa Aluminio, S.A. de C.V. in 2019, which initiated an anti-dumping filing investigation into aluminium round sheets originating in China. During the investigation, Mexico imposed a provisional anti-dumping duty of 37.88% on the product in question. Eventually, the Mexican Ministry of Economy confirmed the existence of dumping of Chinese aluminium discs and decided to impose anti-dumping duties. Event Analysis: Mexico's move is aimed at protecting its own aluminium wafer industry, which may affect China's aluminium wafer exports. ## Vietnam reviews new Chinese exporters of alloy steel to Vietnam Vietnam's Ministry of Industry and Trade issued a decision to review new exporters of some alloy or non-alloy coloured steel products on which China and South Korea have imposed anti-dumping duties. Previously, Vietnam's Ministry of Industry and Trade has imposed anti-dumping duties on alloy or non-alloy painted flat rolled steel products from China and South Korea. Event Analysis: Vietnam's move is aimed at preventing Chinese and South Korean companies from circumventing anti-dumping duties, which could exacerbate trade friction between China and Vietnam. The above content is for reference only. We suggest you rewrite the above and combine it with your own views.