Sept 16 (Reuters) – Shares of Paytm, One Mobikwik, Yes Bank advanced on Wednesday after India’s payments authority introduced a 0.4% fee on select person-to-merchant transactions above 2,000 rupees (about $20) from October 15. Paytm, One Mobikwik, Yes Bank and Axis Bank gained between 2%-8% in early trade on Wednesday, while Axis Bank gained about […]
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India’s payment firms jump as UPI fee boosts revenue outlook
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Sept 16 (Reuters) – Shares of Paytm, One Mobikwik, Yes Bank advanced on Wednesday after India’s payments authority introduced a 0.4% fee on select person-to-merchant transactions above 2,000 rupees (about $20) from October 15.
Paytm, One Mobikwik, Yes Bank and Axis Bank gained between 2%-8% in early trade on Wednesday, while Axis Bank gained about 0.8%. Pine Labs, which rose about 2.2%, reversed gains to trade 3.2% lower.
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Harikrishnan Nair)