Paytm shares crash 10% as Finance Ministry dismisses MDR speculation

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Shares of One 97 Communications, which runs the payments platform Paytm, on Thursday fell up to 10% to the day’s low at Rs
864.20 on BSE after the Finance Ministry dismissed reports about the possible introduction of a merchant discount rate (MDR) for UPI payments.

Banks or payment services providers like Paytm earn a fee, which is called MDR, from merchants for processing payments in real time. To promote digital payments, the government has waived MDR charges on UPI transactions.But several reports circulated online claiming that the government was…



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Paytm shares crash 10% as Finance Ministry dismisses MDR speculation


Shares of One 97 Communications, which runs the payments platform Paytm, on Thursday fell up to 10% to the day’s low at Rs
864.20 on BSE after the Finance Ministry dismissed reports about the possible introduction of a merchant discount rate (MDR) for UPI payments.

Banks or payment services providers like Paytm earn a fee, which is called MDR, from merchants for processing payments in real time. To promote digital payments, the government has waived MDR charges on UPI transactions.But several reports circulated online claiming that the government was…



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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