significant positive development for Paytm

significant positive development for Paytm. NPCI has introduced a new MDR (Merchant Discount Rate) on selected UPI merchant transactions above ₹2,000, effective October 15, 2026. The MDR can be up to 0.40%, with a maximum of ₹300 per transaction for transactions of ₹75,000 and above. Importantly, customers will not pay this charge; it is a merchant-side charge within the payments ecosystem. P2P UPI transactions remain free, and payments to merchants up to ₹2,000 also remain free. For Paytm, this is important because the company has a large merchant-payment ecosystem. Paytm itself said in its regulatory disclosure that the new MDR framework will generate additional revenue from its merchant business from transactions that were previously free. The revenue will be distributed among ecosystem participants, including banks, payment service providers and payment applications.