Centre’s no MDR stance derails fintech’s UPI monetisation plans

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The Ministry of Finance’s clarification that there was no plan to reintroduce the merchant discount rate (MDR) on payments done via Unified Payments Interface has dampened the monetisation plans that payment firms had around the popular payment ecosystem.

Shares of listed payment firms fell Thursday, a day after the ministry said speculations about the return of the fee for processing UPI payments were “completely false, baseless and misleading”.

One 97 Communications, which runs the payment platform Paytm, closed 6.8% lower at Rs 895.15 on the…



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Centre’s no MDR stance derails fintech’s UPI monetisation plans


The Ministry of Finance’s clarification that there was no plan to reintroduce the merchant discount rate (MDR) on payments done via Unified Payments Interface has dampened the monetisation plans that payment firms had around the popular payment ecosystem.

Shares of listed payment firms fell Thursday, a day after the ministry said speculations about the return of the fee for processing UPI payments were “completely false, baseless and misleading”.

One 97 Communications, which runs the payment platform Paytm, closed 6.8% lower at Rs 895.15 on the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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