On this page
UPI MDR deferral to January 2027 sought; MobiKwik, Paytm, Pine Labs shares slide up to 7%
NPCI has received requests to defer the UPI MDR, scheduled for 15 October 2026, to January 2027. The MDR is fixed at 0.4% for transactions above Rs 2,000. Payments stocks fell up to 7% on 8 October 2026 while a decision is awaited.
One email each morning: the day’s top moves in Indian retail, why each matters and what to watch. Free. Stop any time.
What we verified
Checked against the other reports of this story.
- Not a single-source story: India Today Business & Auto, The Hindu BusinessLine, Business Today and Medianama report the same development independently.
Why it matters to operators and investors
With the MDR start date possibly moving from 15 October 2026 to January 2027, payments-asset valuations and merchant-acquiring partnership terms are exposed to that timing, so it is prudent to wait for NPCI's decision before locking in deal pricing.
Updates
Each later report on this story, newest first. Earlier entries are never edited; a correction is a new entry.
NPCI to decide on deferring 0.4% UPI MDR to January 2027 at 9 October Steering Committee meeting
- MDR on Rs 10,000 transaction: Rs 40
- Paytm, MobiKwik, Pine Labs share fall: 5%
- Steering Committee meeting date: October 9
On the record
Earlier NPCI reports on RetailIntel, newest first.
The numbers
Figures from Moneycontrol
| MobiKwik share fall in morning trade: | 6.67% |
|---|---|
| Paytm parent share fall in morning trade: | 5.29% |
| Pine Labs share fall in morning trade: | 2.66% |
The source
Filed
Confirmed by India Today Business & Auto, The Hindu BusinessLine, Business Today, Medianama, Times of India, Mint
First seen