The Indian fintech sector experienced a significant bout of volatility this week, as shares of major players—including Paytm, Pine Labs, and MobiKwik—faced downward pressure following emerging reports that the implementation of the Merchant Discount Rate (MDR) on select Unified Payments Interface (UPI) transactions may be pushed back. The potential deferment, reportedly shifting from an initial […]
Industry Pushback and Economic Pressures Prompt Urgent Calls to Delay UPI Merchant Discount Rate Implementation to January 2027
NEW DELHI — In a high-stakes showdown that could reshape India’s digital payments landscape, a broad coalition of merchant associations, fintech heavyweights, and payment processing companies has formally urged the National Payments Corporation of India (NPCI) to defer the implementation of the long-debated Unified Payments Interface (UPI) Merchant Discount Rate (MDR) until January 2027. The […]