GENERAL16 Sept 2026
MDR on UPI: Brokerages see Paytm, Pine Labs as biggest beneficiaries
The news is that brokerages are reacting to MDR (merchant discount rate) on UPI payments. Jefferies says the rate has come ahead of estimates, and higher than the 25 basis points many expected. Emkay Global feels this lifts the whole industry's revenue pool. Paytm and Pine Labs are seen as the biggest beneficiaries. If you accept UPI payments, watch for pricing changes.
Key Statutory Highlights
- Jefferies said the MDR on UPI came ahead of estimates and is higher than the 25 basis points expected.
- Emkay Global believes this development lifts the revenue pool for the industry.
- Brokerages see Paytm and Pine Labs as the biggest beneficiaries of this change.
Actionable Advice for Taxpayers / Founders:If your business accepts UPI payments, ask your payment provider or CA whether this could affect your transaction costs before you plan your pricing.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: