One 97 Communications Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - NPCI Circular: Revision in TPAP and Payer PSP Fees for RuPay Credit Card on UPI Transactions.'
PAYTM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NPCI (National Payments Corporation of India) issued a circular on March 10, 2026, revising fees for RuPay Credit Card on UPI transactions, effective April 1, 2026. The TPAP (consumer app) fee has been reduced from 8 basis points to 6 basis points for the Non-Industry category and from 4 basis points to 3 basis points for the Industry category. Paytm clarifies that this only affects consumer UPI app revenue and has no impact on merchant acquiring revenue such as UPI merchant QR revenue. The company states that the vast majority of its payments revenue comes from merchant payments, where it holds a leadership position. Paytm's overall payment processing margin remains comfortably above 4 basis points, and it says the financial impact of this revision is immaterial.
Neutral to slightly negative for sentiment, but the company explicitly states the impact is immaterial since its core revenue comes from merchant acquiring, not consumer UPI app fees. Shareholders are unlikely to see any meaningful effect on earnings from this change.