Paytm and Mobikwik Shares Crash Up to 10 Percent on Reported UPI MDR Delay
· Business · Economic Times, Moneycontrol, LiveMint
Shares of Paytm parent One97 Communications crashed 10 percent on Thursday, reducing its market capitalization below Rs 1 lakh crore. Mobikwik and Pine Labs shares also plunged up to 8 percent and 4 percent respectively. The sharp selloff followed media reports that the introduction of the Merchant Discount Rate on UPI transactions may be delayed from October 15 to January 1. Retail traders' associations reportedly pushed back against the fee structure, raising concerns that the delay will keep UPI payments free through the festive season. The National Payments Corporation of India met with stakeholders on Wednesday to discuss the timing and implementation details.
Why it matters
The potential delay directly impacts expected fintech revenue streams and triggers sharp volatility in Indian digital payments stocks.
Read the original report — Economic Times
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