In-depth reporting, market intelligence, and analytical commentary on more stories.
![UPI MDR Delay: PhonePe meets govt officials; NPCI Steering Committee Meeting cancelled today [Exclusive]](/upload/theheadandtale.com/2026/10/1791547094_aa1c7337de_upi_2.jpg)
With NPCI also holding meetings with government departments, uncertainty over the October 15 rollout continues, sources say.
The proposed introduction of a Merchant Discount Rate (MDR) on UPI transactions, which was starting from October 15, is likely to be deferred to January.
The fledgling proprietary components business, stiff competition in its core fan business, dependence on imports and continued losses could put greater scrutiny on the valuation Atomberg seeks through the IPO.
"Apple Pay is launching on Wednesday, starting with supporting credit cards from Axis Bank," one of the sources said.
UPI's new 0.4% MDR grabbed headlines, but the real story is who profits. By our estimates, the top three UPI apps could get up to 40% of the MDR split.
The NPCI framework also proposes a flat Rs 5 MDR on UPI transactions above Rs 2,000 for specified merchant categories.
![The MCC mayhem: HDFC Bank enters the scene; PayU sues banks; Razorpay prepares to contest IRF claims [Exclusive]](/upload/theheadandtale.com/2026/09/1789475840_7b2f2e1ea7_mcc_misuse_2.jpg)
What began as a one-off dispute in which ICICI Bank quietly initiated interchange reimbursement fee (IRF) claims over MCC misuse is now turning into an industry-wide contest.
In its order, the Delhi HC has asked the RBI to depute a senior officer to help the parties reach a resolution within 30 days.
The six-month extension is expected to provide some breathing room to PAs that were unlikely to complete the exercise across their entire merchant base by September 15.
Enrission India head Harsh Deodhar says that its association with Indian IITs is a "good selling point" to the Japanese LPs.
PharmEasy's comeback followed a costly Thyrocare bet, founder's cash-outs, and a founder-investor deal outside the captable.
PhonePe has emerged as the lowest bidder, but the economics behind the mandate raise questions about how much the company is willing to pay for growth.
The Japanese financial services group took the decision to wound down its lending-infrastructure business in December.
A year after launching ChatGPT Go in India, Sam Altman-led OpenAI has gone far beyond selling a cheaper subscription, building partnerships and local talent...
This video captures the economics, the loopholes, who actually wins if MDR returns, and why the government might be playing a longer game than just UPI.
Talking about his fund, LPs, investment strategy, Cedar Hill Capital's founder Sahil Anand said raising capital remains challenging.
Succession planning is likely to remain an area that investors will watch over long term with Cult.fit IPO expected to be largely an OFS-driven liquidity event.
The surrender of the payments licenses comes even as Tata Digital says it is sharpening its focus on financial services.
BharatPe objected to Unity Bank's proposal that sought to amend the MoA to facilitate the conversion of some 90 crore warrants into CCPS.
In a joint representation, seven UPI apps have raised concerns around competition, customer choice, market concentration, security, transaction success rates and operational complexity.
