Paytm Shares Tumble 10%, One Mobikwik Dives Over 8% Amid Reports of UPI MDR Delay

New Delhi: Shares of Paytm, One Mobikwik Systems and other fintech firms dived up to 10 per cent on Thursday amid reports that a proposal to defer the rollout of merchant discount rate (MDR) on UPI to January 1, from October 15, is under consideration.

The stock of One 97 Communications, which owns the Paytm brand, tanked 10 per cent to Rs 1,560.60 on the BSE.

Shares of One Mobikwik Systems dropped 8.43 per cent to Rs 234.40, while Pine Labs declined 4.95 per cent to Rs 168.75.

Network People Services Technologies also dipped 4.39 per cent to Rs 1,772.60.

Last month, the government allowed charging MDR under which transactions above Rs 2,000 will attract a fee of 0.4 per cent.

Shares of fintech firms jumped when the announcement was made last month amid hopes that this will generate additional revenue.

According to reports, a proposal to defer the rollout of merchant discount rate on Unified Payments Interface (UPI) to January 1 from October 15 is under consideration, with a decision expected in the next few days.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)