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Paytm’s UPI windfall faces a reality check from MDR sharing, competition

Mint 1 hr ago·17 Sept 2026, 6:43 am

Effective 15 October, a 0.4% MDR will apply to eligible person-to-merchant (P2M) UPI transactions above ₹2,000, subject to a ₹300 cap, and concessional rates for specified sectors. But the eventual benefits accruing to Paytm will depend on how MDR is distributed, among others.

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Paytm’s UPI windfall faces a reality check from MDR sharing, competition