Explore the latest news, in-depth reports, and executive analysis tagged with #Upi.
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.
The AJVC investment is part of Novastar's broader private-markets strategy that combines fund investments with selective direct bets on private companies.
The funding round also saw participation from Claypond Capital, Martin Chavez, Olivier Pomel, Venky Harinarayan and Shah Rukh Khan.
The High Court declines to grant interim injunction sought by PayU, instead directs status quo while the Reserve Bank of India steps in as facilitator.
Earlier this year, other lending companies such as Kissht and Aye Finance also cut their IPO size, as valuation concerns grew.
NPCI’s surplus (profit) declined 32% to Rs 991 crore in FY26 from Rs 1,461 crore in the previous fiscal.
The board is scheduled to meet on September 17 to evaluate various fundraising options, including the issuance of equity shares, warrants, convertible securities, or other approved instruments.
The government has, however, specified that banks and other system providers cannot impose any charge on RuPay-powered debit cards and UPI payments of up to Rs 2,000.
August was defined by Trump’s crypto push, US regulatory moves, stablecoins and India’s tokenisation ambitions.
The overall value of merchant category-wise purchases via UPI fell to Rs 8.95 lakh crore in August from Rs 9.07 lakh crore in July, even as transaction volumes rose.
The funding round also saw participation from existing investors Spark Capital and Pear VC.
The funding round also saw participation from existing investor Bessemer Venture Partners.
The funding round also saw participation from angel investors Afsar Ahmad, Jani Pasha, and Arpit Dave.
The round also saw participation from Sony Innovation Fund, Gaja Capital, Artha Ventures and other investors.
The MoU will initially remain valid for three years and can be renewed through mutual agreement.
The IPO-bound company this week received in-principle approval for two domestic payments licence from the Central Bank of the UAE (CBUAE).
PhonePe said the partnership builds on its Visa device tokenisation offering launched in February 2025.
The latest transaction comes weeks after NewQuest sold 1.25 crore Shadowfax shares for around Rs 300.6 crore in August at Rs 240.46 per share.
Bajaj Finance has been using TrueFan AI’s platform at scale to create millions of personalised videos for customer engagement and dealer communication.
