NPCI defers MDR on UPI P2M transactions to after Diwali

Regulatory & Legal View source PDF Explain this filing

PAYTM · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+1.0%Reaction day

₹1690.00

prior close

₹1691.40

announcement price

In-mkt

timing

Nifty Midcap 150market+1.0%+0.1% vs market

Financial Technology (Fintech) peers, median of 8sector+1.6%-0.5% vs sector

On the reaction day the stock moved 0.1 pts more than Nifty Midcap 150 and 0.5 pts less than its Financial Technology (Fintech) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.6

10m

+0.8

15m

+1.0

30m

+0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.0+1.0+0.1+1.6-0.5

Next day

+1.1+0.9+0.1+1.0+0.1

+1.3+0.6+0.7-0.5+1.8

+0.2+0.5-0.3-0.8+1.0

-0.2-0.6+0.3-2.2+2.0

-1.2-1.9+0.8-4.0+2.8

-4.4-4.8+0.4-8.2+3.8

15d

—————

UpDownMarket · Nifty Midcap 150Sector · Financial Technology (Fintech) peers, median of 8Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NPCI has postponed implementation of Merchant Discount Rate (MDR) on select UPI Person-to-Merchant transactions to after the festive period, with a new date to be notified later. This follows the original NPCI circular dated September 15, 2026. Paytm is providing an update on the earlier disclosure under SEBI Listing Regulations.

Likely market impact

Delay gives Paytm and merchants more time to prepare for the new MDR fee structure on UPI P2M transactions.