Paytm shares crash 10% as Finance Ministry dismisses MDR speculation
Shares of One 97 Communications, which runs the payments platform Paytm, on Thursday fell up to 10% to the day’s low at Rs
864.20 on BSE after the Finance Ministry dismissed reports about the possible introduction of a merchant discount rate (MDR) for UPI payments.
Banks or payment services providers like Paytm earn a fee, which is called MDR, from merchants for processing payments in real time. To promote digital payments, the government has waived MDR charges on UPI transactions.
864.20 on BSE after the Finance Ministry dismissed reports about the possible introduction of a merchant discount rate (MDR) for UPI payments.
Banks or payment services providers like Paytm earn a fee, which is called MDR, from merchants for processing payments in real time. To promote digital payments, the government has waived MDR charges on UPI transactions.
But several reports circulated online claiming that the government was planning to impose MDR on large-ticket UPI transactions.
Such baseless and sensational speculations cause unnecessary uncertainty, fear, and suspicion among our citizens, the ministry said in…
