UPI MDR rollout after Diwali: What it means for Paytm, MobiKwik and Pine Labs | What investors should know

With the Diwali festive period drawing to a close, attention is turning to the implementation of Merchant Discount Rate (MDR) charges on select person-to-merchant (P2M) Unified Payments Interface (UPI) transactions. The revised framework could mark a significant shift for India’s digital payments industry, creating a recurring revenue stream for payment companies such as Paytm
and Pine Labs.

The National Payments Corporation of India (NPCI) had initially scheduled the revised MDR framework to take effect from 15 October.