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Fintech and payments

Topic tag · tracked since 23 Sept · also fintech, fintechs, digital payments, payments

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Today14 stories · 32 articles105 stories since 23 Sept

Net tone● +13% today−13% over the week

Market checkIndia Digital −0.41%Nifty India Digital on Fri, 25 Sept · Nifty +0.34%

Developing5 storylinesBiggest: Proposed UPI merchant discount rate · 34 updates

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Bar colour is the day’s tone · tracking began on 23 Sept

223 Sept

3824 Sept

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1028 Sept

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stories together this week · colour is their tone

UPI46 PB Fintech30 Insurance16 Insurance distribution16 Banks13 IRDAI13 AI8 Taxes8 Crypto6 Stock exchanges6

Stories

105 in all · newest first

IPO● mixedRedotPay completes financial audit as it presses ahead with U.S. IPO plansRedotPay completed a financial audit as part of preparations for a U.S. IPOCrypto Listing rules1 source
36m

Legal● mixedIf neither tax nor fee, what is this ‘expropriation’, Supreme Court asks Govt on UPI MDR chargesSupreme Court asked the government whether UPI MDR is a tax or fee, or ‘expropriation’UPI Supreme Court Taxes1 source
49m

Legal● mixedSupreme Court declines to stay UPI charges above ₹2,000, seeks Centre’s explanationThe framework imposes a 0.4% charge on specific transactions above ₹2,000UPI Supreme Court RBI2 sources
47m

Market move● mixedPB Fintech among 4 F&O stocks with a sharp rise in futures open interestA notable increase in futures open interest signals more active, unexpired futures contractsPB Fintech F&O1 source
2h

Data● mixedHigh-frequency indicators remained healthy, digital payments continued to post robust growthCredit growth1 source
2h

Broker call▲ bullishShould one buy the PB Fintech dip? Bernstein sees 91% upside but here's what others saidBernstein sees 91% upside in PB FintechPB Fintech Digital lending Bernstein1 source
4h

Market move▼ bearishPB Fintech: the risk was known. Investors chased the stock anywayPB Fintech’s stock corrected sharply amid a known regulatory riskPB Fintech Market valuations Stockbrokers1 source
5h

Broker call● mixedPB Fintech shares: Macquarie target on battered stock hints at 67% upsidePB Fintech Macquarie1 source
5h

Broker call● mixedPB Fintech Faces 38% FY30 Profit Hit Under 'Max Pain' Scenario; Bernstein Still Sees 91% UpsideBernstein's 'max pain' scenario puts PB Fintech FY30 profit at around Rs 20 billion, down from Rs 32 billionPB Fintech Bernstein1 source
6h

Broker call▲ bullishBernstein keeps Outperform on PB Fintech, sets ₹2,310 target after sharp sell-offBernstein retained its Outperform rating and ₹2,310 target pricePB Fintech Bernstein IRDAI4 sources
3h

Policy● mixedIRDAI faces pushback over proposed caps on insurance distribution costs, impacting fintech and insurer stocksIRDAI Insurance distribution Insurance1 source
14h

Policy● mixedUPI MDR puts big-ticket retail payments in focusRetail UPI1 source
15h

● mixedMobile retailers plan October 2 protest against proposed 0.4% UPI MDRRetailers across India plan to observe October 2 as “No UPI Day”UPI Retail7 sources
2h

Legal● mixedSupreme Court to hear challenge to MDR on UPI merchant payments above ₹2,000The Supreme Court will hear the plea on MondayUPI Supreme Court7 sources
1h

Policy▼ bearishWho Absorbs UPI MDR? NSE CEO Rules Out Govt Talks As 0.02% Fee On Capital Markets Nears KickoffNSE CEO Ashish Chauhan said there were no government talks on the new UPI MDRNSE UPI Stock exchanges1 source
1d

● mixedUPI payments look simple, but these seven things can save you from a costly mistake1 source
1d

Market move▼ bearishNew-Age Tech Stocks: Insurtech Sell-Off Drags Combined M-Cap Down By $3.6 Bn This WeekNew-age tech stocks’ combined market capitalisation fell $3.6 billion this weekPB Fintech Turtlemint IRDAI1 source
2d

● mixedNSE MD says no govt talks on new UPI MDRNSE UPI Stock exchanges1 source
2d

Expansion● mixedKraken’s parent Payward is betting billions on becoming financial infrastructure, not just a crypto exchangePayward is unifying trading, payments, asset management and institutional services on common railsCrypto exchanges Crypto Infrastructure1 source
2d

Policy● mixedNSE chief says no government talks on UPI MDR; brokers and clients should resolve disputeNSE CEO Ashish Chauhan said there have been no government talks on a new UPI MDRNSE UPI Stock exchanges2 sources
2d

Deal● mixedMonzo discusses sale to Nubank at about £10 billion valuationMonzo is in talks with Brazil’s Nubank about a saleUnited Kingdom Startups and VC2 sources
2d

● mixedRepeated ₹2,000 UPI payments for one purchase? Your bank could flag the pattern: What it meansUPI Banks1 source
2d

● mixedMoneycontrol Startup Conclave: AI valuations are definitely overstated, says PhonePe CEO Sameer Nigam on AI hypePhonePe AI Market valuations1 source
2d

Market move▼ bearishRout in PB Fintech stock deals Rs 11,000 crore blow to mutual fundsPB Fintech Mutual funds Mutual fund flows1 source
2d

● mixedGlobal tourism enters a digital era: WEF highlights role of online payments, technology, AIOnline booking platforms help smaller tourism businesses reach customers beyond traditional marketsHotels and travel AI1 source
2d

Expansion● mixedHow Pine Labs Shifted Gears: From PoS Devices To An AI-Powered Fintech StackPine Labs began by helping petrol pumps accept payments and manage loyalty programmes in 1998Pine Labs AI1 source
3d

Policy▼ bearishIrdai's proposed commission cuts threaten PB Fintech's online economicsProposed commission cuts could reduce PB Fintech’s core online insurance revenue by nearly 30%PB Fintech IRDAI Insurance distribution1 source
3d

Expansion▲ bullishAiven launches India operations; plans expansion in BengaluruAiven launched operations in India and plans to expand in BengaluruBengaluru AI IT services1 source
3d

Deal● mixedOne 97 Communications hikes stake in its subsidiary - Little InternetOne 97 Communications increased its stake in subsidiary Little InternetPaytm1 source
3d

Policy● mixedT.N. government looks at developing GCCs in fintech space in Coimbatore, ChennaiGCCs IT services1 source
3d

Policy● mixedUPI MDR: Where will 0.4% fee go? FM clarifies banks, payment gateways & apps to get a share | Check breakdownOf the 0.4% UPI fee, 40% goes to customer banks, 30% to payment gateways and 20% to UPI appsUPI Banks1 source
3d

● mixed‘Intelligent money’ is here: 10 findings shaping the future of B2B payments1 source
3d

Policy● mixedUPI MDR explained: Will mutual fund SIPs and lumpsum investments be affected?New 0.02% MDR applies to select one-time UPI paymentsUPI Mutual funds1 source
3d

Legal● mixedUS seizes bank accounts of payments group working for Tether’s and Bitfinex’s bankUS prosecutors allege Capstone illegally moved hundreds of millions of dollars for Tether and BitfinexTether Crypto Crypto regulation1 source
3d

Market move● mixedUPI, bank transfer or credit card: What to consider when paying rentUPI Banks1 source
3d

Policy● mixedUPI MDR explained: 6 myths about the new framework and what it means for consumers and merchantsThe article addresses six myths about the new UPI MDR framework and its effects on consumers and merchantsUPI1 source
3d

Policy● mixedSitharaman says UPI MDR decision was professional, without external pressureThe MDR is 0.4%UPI Nirmala Sitharaman Taxes3 sources
3d

Policy● mixedPaying Rs 6,000 by UPI? Here’s what happens if you split it into three Rs 2,000 paymentsUPI1 source
3d

Policy● mixedUPI is accepted in 11 countries: Will MDR charges apply globally? What we know so farUPI is accepted in 11 countries; whether new MDR fees apply globally remains unclearUPI1 source
3d

● mixedWhy AI agents need an identity layer to act safely on web built for humansAI agents can shop, book travel and make paymentsAI UPI E-commerce1 source
3d

Market move● mixedPB Fintech shares fall below listing price; stock down 12% from day's highPB Fintech Stock exchanges1 source
3d

Policy● mixedFM says proposed UPI MDR is not a tax and will not burden consumersMDR will not be passed on to consumersUPI Nirmala Sitharaman Taxes2 sources
3d

● mixedBank strike Sept 28-30: Will financial services work? All ATM, digital wallet and UPI FAQs answeredBank unions plan a three-day strike from September 28 to 30, risking in-branch service disruptionsUnited Forum of Bank Unions Banks UPI1 source
3d

Policy● mixedGovernment and banks to set subsidy for UPI after MDR beginsMDR collections are not expected to cover the full cost of running UPIUPI Banks2 sources
3d

Policy● mixedSBI and other PSU banks waive ATM charges during September 28–30 strikePSU lenders waive ATM charges beyond free transaction limits during the three-day strikeSBI PSU banks Punjab National Bank7 sources
2d

Expansion● mixedSamsung Wallet adds fingerprint authentication for UPI payments in IndiaUPI1 source
3d

Market move● mixedStock Movers: NSE, Turtlemint, PB FintechNSE Turtlemint PB Fintech1 source
3d

Broker call▼ bearishTrouble ahead for PB Fintech? Why Motilal Oswal warns of 46% hit to FY28 earningsPB Fintech Motilal Oswal Financial Services Digital lending1 source
3d

Market move▼ bearishPB Fintech and Turtlemint shares extend losses as outlook worsensPB Fintech Home First Finance Company India2 sources
3d

Market move● mixedPB Fintech put option buyers laughing all the way to the bankA 1,500-put option premium rose from ₹0.3 to ₹279.95PB Fintech Stockbrokers1 source
3d

Market move● mixedWelspun Corp hits record high, PB Fintech rebounds; Ola Electric, Meesho fall on Nifty500 market openWelspun Corp PB Fintech Ola Electric Mobility1 source
3d

Policy▼ bearishPB Fintech faces up to 46% earnings risk from Irdai's draft rules: AnalystsJefferies sees up to 46% earnings risk for PB Fintech from IRDAI's draft rulesPB Fintech IRDAI Insurance distribution1 source
3d

Market move▼ bearishPB Fintech extends losses, falls another 5%; key concall takeaways, how insurance stocks are faringPB Fintech Insurance distribution Insurance1 source
3d

Policy● mixedGovernment tells banks to shield consumers from UPI feesUPI Banks RBI rules1 source
3d

Policy● mixedSitharaman says UPI MDR above ₹2,000 will not be passed to customersMDR on specified UPI transactions above ₹2,000 will be borne within the payments ecosystemUPI Nirmala Sitharaman Taxes5 sources
3d

Broker call▼ bearishAnalysts cut PB Fintech price targets amid insurance distribution concernsHSBC and Motilal Oswal cut price targets by nearly 50%PB Fintech Insurance distribution Insurance2 sources
3d

Policy● mixedUnified Payments Interface: Where growth outpaces the rulebookUPI growth is outpacing the rulebook, with NPCI acknowledging risks in the ecosystemUPI RBI rules Listing rules1 source
3d

Broker call▼ bearishIRDAI proposal risks 12% earnings hit at PB Fintech; Jefferies cuts target 25%Jefferies warns proposed IRDAI changes could cut earnings by 12%PB Fintech IRDAI Insurance distribution3 sources
3d

▲ bullishFrom UPI to cross-border payments: Why interoperability is the next big opportunityUPI’s expansion beyond India is opening the door to a more connected cross-border payments ecosystemUPI Global markets1 source
3d

▲ bullishFintechs bet on AI agents to retain merchants as acquisition costs rise and margins thinMerchants using AI agents have seen a jump in their toplineAI1 source
3d

Policy● mixedBT Big Story: The price tag of UPI: Will small shops go back to cash?A 0.4% MDR will apply to merchant UPI transactions above Rs 2,000UPI1 source
3d

Market move▼ bearishStocks in news: Waaree Energies, PB Fintech, Lemon Tree Hotels and Dr Lal PathLabsNifty 50 fell by over 380 pointsPB Fintech Nifty and Sensex Hotels and travel1 source
3d

● mixedBullish, Alpaca and Apex Fintech form coalition to push issuer-backed tokenized stocksBullish, Alpaca and Apex Fintech formed a coalition to advance issuer-backed tokenized stocksCrypto SEC Stock exchanges1 source
4d

● mixedPhonePe bets on merchant push as MDR returnsPhonePe UPI1 source
4d

Policy● mixedFederal Reserve Board requests public comment on two proposals related to establishing a regulatory framework for Board-supervised payment stablecoin issuers under the GENIUS ActCrypto regulation US Fed Crypto1 source
4d

Expansion● mixedLower commissions could push Policybazaar into insurance manufacturing: Yashish DahiyaPB Fintech is evaluating entry into insurance manufacturing as distribution commissions may fall significantlyPB Fintech Insurance distribution Insurance1 source
4d

Expansion● mixedPB Fintech may explore new business options after Irdai commission cutsPB Fintech IRDAI Insurance distribution1 source
4d

● mixedUPI MDR: ‘Not a single penny’ will go to govt; earnings to be shared among banks and other entities, says reportNew MDR takes effect October 15 and applies to merchants accepting UPI payments above ₹2,000UPI Banks1 source
4d

Policy● mixedCentre to ask banks’ body to ensure consumers don't pay MDR on UPI paymentsThe Indian Banks’ Association plans outreach to clarify that consumers do not pay MDR on UPI paymentsIndian Banks’ Association UPI Banks1 source
4d

Policy● mixedUPI MDR on loan repayments: What charge applies to EMIs and who bears it? Here's what borrowers need to knowFrom 15 October, UPI debt-collection transactions above ₹2,000 will attract a ₹5 MDRUPI Digital lending1 source
4d

Policy● mixedUPI fee could recover up to Rs 15,000 crore annually while keeping most transactions freeNPCI plans a 0.4% merchant discount rate on UPI transactionsUPI1 source
4d

Deal● mixedHDFC MF bets on PB Fintech, buys stake worth Rs 321 crore as IRDAI reforms trigger 36% stock routHDFC Mutual Fund bought 25 lakh PB Fintech shares for about ₹321 crore at ₹1,282.30 eachPB Fintech IRDAI Insurance distribution1 source
4d

Policy● mixedGST Council to review proposed levy on UPI merchant fees above ₹2,000The GST Council is scheduled to meet on October 7 to discuss the levyUPI GST Taxes2 sources
4d

Policy● mixedFinance Ministry to meet banks and traders on UPI MDR concernsThe IBA will explain UPI MDR through **public campaigns**UPI Banks2 sources
4d

Policy● mixedGST Council may review UPI MDR and an 18% tax next monthGST Council will take up a proposal on MDR for UPIUPI GST Taxes2 sources
3d

Policy● mixed0.4% MDR to apply to specified UPI merchant payments above ₹2,000 from October 15The 0.4% MDR applies to specified UPI merchant payments above ₹2,000 from October 15UPI Nirmala Sitharaman2 sources
3d

Policy▼ bearishPB Fintech forced to rethink business plan as India insurance commissions cap comes as a major shockerProposed insurance commission caps could severely impact PB Fintech’s revenuePB Fintech Insurance distribution Insurance1 source
4d

Policy● mixedUPI MDR: No extension of October 15 implementation date; GST Council may review 18% GSTUPI GST Taxes1 source
4d

Policy● mixedGovt, IBA to work on mechanism to ensure UPI MDR isn't passed on to consumersGovt and IBA will discuss a mechanism to prevent consumers bearing MDR on specified UPI transactionsUPI1 source
4d

Results▼ bearishIPO-Bound Navi’s FY26 Loss More Than Triples To ₹466 CrNavi's FY26 net loss widened 268.7% to ₹465.99 cr from ₹126.4 crStartups and VC Startup funding1 source
4d

Policy● mixed‘75% of merchants insulated from UPI MDR’: NPCI CEOUPI PhonePe1 source
4d

Leadership● mixedSolana Foundation hires Binance, Polygon veterans as it ramps up tokenized finance pushSolana Foundation hired Rachel Conlan and Jamal Raees, veterans of Binance and PolygonSolana Binance Crypto1 source
4d

Policy● mixedNPCI says no immediate plan to review MDR, charges needed to fund technology and cybersecurityNPCI has no immediate plan to review UPI MDR chargesUPI1 source
4d

Policy▼ bearishPB Fintech, Turtlemint hit hard as Irdai commission overhaul pressures business modelsPB Fintech Turtlemint IRDAI1 source
4d

Policy● mixedAfter Madhya Pradesh, now Maharashtra to observe ‘no UPI day’ on October 2: What should consumers keep in mind?Maharashtra will observe ‘no UPI day’ on October 2Maharashtra UPI1 source
4d

Policy● mixedNPCI chief calls for UPI investment to address rising costs and cyber risksNPCI chief Dilip Asbe said a market-driven model for UPI is needed to fund cybersecurity and infrastructureUPI Infrastructure AI2 sources
4d

Market move▼ bearish[Update] PB Fintech Crashes 36%, Turtlemint 20% On IRDAI Commission Cap PlanPB Fintech shares fell 35.98% to ₹1,210 apiecePB Fintech Turtlemint IRDAI1 source
4d

Policy● mixedCan you make payments without internet connectivity? RBI’s offline e-rupee initiative explainedRBI is exploring offline e-rupee payments using Bluetooth and NFCRBI Rupee RBI rules1 source
4d

Expansion● mixedPhonePe plans 20,000 hires and 50 lakh payment devices in a yearPhonePe plans to hire more than 20,000 sales personnelInfrastructure PhonePe4 sources
4d

▼ bearishPB Fintech shares plunge as IRDAI draft threatens a key customer-acquisition channelPB Fintech shares fell 34%; another report put the crash at 36%PB Fintech IRDAI Insurance distribution2 sources
4d

Expansion● mixedTencent launches payments app for ‘China-maxxing’ foreign touristsTencent launched a payments app for foreign tourists visiting ChinaChina1 source
4d

Deal▲ bullishPine Labs and Google Cloud partner on agentic commerce in IndiaPine Labs Google AI4 sources
4d

Policy● mixedUPI MDR kicks in October 15: Why NPCI expects no hit to transaction volumesThe new Merchant Discount Rate takes effect October 15UPI Dilip Asbe1 source
4d

Policy● mixedProposed 0.4% UPI MDR could recover Rs 15,000 crore in first year: NPCI chiefThe summary discusses younger Indians viewing silver differently, beyond its price relative to goldSilver Gold UPI1 source
4d

Policy● mixedUPI MDR | India may examine demand to exempt select transactions from charges: ReportThe Department of Financial Services may examine exempting petrol pumps from UPI MDR charges; no decision has been madeUPI Fuel prices1 source
4d

Policy▼ bearishPB Fintech flags revenue risks from IRDAI proposal after shares plungePB Fintech shares plunged 36% after IRDAI proposed changes to insurance distribution economicsPB Fintech IRDAI Insurance distribution6 sources
3d

Policy● mixed75% traders may not face UPI levy, says NPCI MD & CEO Dilip Asbe75% of traders may not face a UPI levy, NPCI chief Dilip Asbe saidDilip Asbe UPI GST1 source
4d

Market move▼ bearishPB Fintech plunges 28% to 35%, erasing ₹30,000 crore in market valuePB Fintech shares fell 28% to 35% on September 24, depending on the reportPB Fintech Market valuations Stockbrokers2 sources
3d

Market move▼ bearishPB Fintech plunges as proposed IRDAI curbs rattle insurance distributorsPB Fintech fell 36% in one day, wiping out ₹31,426 crore in market valuePB Fintech IRDAI Insurance distribution6 sources
2d

Policy● mixedPayGlocal gets in-principle approval for a GIFT City payment services subsidiaryIFSCA gave PayGlocal in-principle approval to establish a wholly owned subsidiary in GIFT City2 sources
4d

IPO● mixedCan Moneyview IPO deliver long-term growth for high-risk investors?Moneyview is planning a ₹750 crore IPO to fund loan growthMoneyview Digital lending Unsecured loans1 source
4d

IPO● mixedAssetGro Fintech to file DRHP with Sebi for Rs 2,000-2,500 cr IPOAssetGro Fintech plans to file draft IPO documents with SEBI by the end of SeptemberDigital lending Listing rules Startup funding1 source
4d

Market move● mixedUK banks complete first interbank transactions using tokenised depositsBarclays, NatWest and HSBC tested tokenised deposits for remortgages and marketplace paymentsUnited Kingdom HSBC Banks3 sources
4d

Policy● mixedCentral government employees to receive September salary early on September 25Central government employees will receive September salary on September 25Banks Jobs and layoffs4 sources
3d

Policy▲ bullishSBI expects new UPI merchant fee to cover transaction costs and generate a small surplusSBI will charge a merchant discount rate on UPI payments above ₹2,000 from October 15SBI UPI PSU banks2 sources
4d