13-Oct-2026 14:32:41
PAYTM: NPCI DEFERS MDR IMPLEMENTATION ON SELECT P2M UPI TRANSACTIONS UNTIL AFTER DIWALI
• NPCI has decided to postpone the implementation of Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) UPI transactions. • Earlier, NPCI had issued a circular dated September 15, 2026, regarding the levy of MDR on select P2M transactions. • Revised implementation will take place after Diwali, with the effective date to be announced separately. • Decision comes ahead of the festive season, providing additional time for merchants and payment service providers to prepare. • Paytm disclosed the development to stock exchanges on October 13, 2026. Impact: Mixed — The postponement delays potential MDR-linked revenue opportunities for payment service providers, including Paytm, but provides more time for implementation and reduces immediate cost pressure on affected merchants.
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