Shares of Pine Labs, One Mobikwik Systems and One 97 Communications fell in morning trade on October 8 as the industry awaits a decision on whether the implementation of UPI Merchant Discount Rate (MDR) will be deferred.
Pine Labs was trading at Rs 172.95 on the NSE, down 2.66%, at 10:06 am. One Mobikwik Systems was down 6.67% at Rs 239, while One 97 Communications, the parent of Paytm, fell 5.29% to Rs 1,640.30.
Moneycontrol had earlier reported that the National Payments Corporation of India (NPCI) has received requests from merchant bodies, fintechs and payments companies to postpone UPI MDR implementation to January 2027, with less than a week to go for the October 15 rollout.
NPCI is likely to take a call over the next two days as discussions are happening with the finance ministry, sources said.
The requests came as the industry said it was not ready for implementation because of confusion over varying MDR rates, policies and their applicability.