Ajinkya Kawale

Adyen's APAC President Gary Yang says India remains a key priority market, with plans to deepen its payments capabilities while expanding into fraud mitigation, loyalty, and usage-based billing

Londhe will lead global strategy and international expansion, while former CEO Jose Thattil becomes executive chairman to oversee strategy, fundraising and partnerships

The service is available on iPhone and iPad at launch, with support for Mac in the works; UPI and RuPay are not supported initially

UPI processed an average 802 million transactions a day in September, up about 1 per cent from August, while transaction value also remained firm despite the MDR backlash

Upasana Taku bought 1.07 lakh MobiKwik shares in two open-market transactions at about ₹198-199 apiece, taking her holding in the fintech firm to 80.65 lakh shares

Technology, public and financial sectors account for 44 per cent of cyberattacks in India, while firms are strengthening governance as AI agents pose new risks

18% GST on merchant discount rate could be reviewed

The core banking and card processing platform is exploring credit line on UPI and other use cases as India becomes one of its priority markets for FY27

From October 15, MDR will apply to certain UPI payments above ₹2,000 made to large merchants, while customers and eligible small vendors will continue to pay no fee

PhonePe, Paytm, Pine Labs and MobiKwik are stepping up merchant acquisition and device deployment as UPI MDR returns and NPCI plans a Rs 3,000-crore fund

Business associations plan a No UPI Day on October 2 to protest the 0.4 per cent merchant discount rate set to apply to UPI merchant payments above Rs 2,000 from October 15

Amazon Pay India CEO Vikas Bansal says the company will focus on expanding its smart wallet and digital credit offerings for consumers and small businesses.

The five-year partnership will see Binance promote USDC across its global platform, particularly in emerging markets, while Circle provides infrastructure services

The fintech major has received in-principle approval for two UAE payments licences and plans to support domestic payment rails Aani and Jaywan ahead of its commercial launch

Proposal needs Sebi representation, followed by RBI, govt nod

Cash in circulation rises 12.5% as UPI grows, raising concerns that MDR could slow the shift to digital payments

UPI carries 0.02% MDR, capped at ₹300, while netbanking costs ₹8-12, negotiated between banks and payment service providers

Brokerages expect banks to receive the largest share of the levy, while Paytm, Pine Labs and other fintechs could gain from higher transaction-linked revenue annually

UPI apps say their Rs 1 share from a Rs 5 MDR on larger bill payments will not cover Bharat Bill Payment System commissions, while smaller transactions earn nothing at all

Experts say GST will raise the upfront cost of accepting eligible UPI payments, but registered businesses can offset the tax through input tax credit, subject to applicable rules.