Payment firms slide after sources say India considers delay in merchant fee plan
BUZZ-Payment firms slide after sources say India considers delay in merchant fee plan ** Shares of digital payments firms slide as India considers delaying the rollout of a fee on large payments via its popular Unified Payment Interface platform by a few months, according to a regulatory official and an industry executive familiar with the discussions
** Paytm PAYT.NS down 5.5%, One Mobikwik ONEM.NS declines 7%, and Pine Labs PINL.NS slips 3%
** Likely delay would ensure retail payments are not impacted during the festive season and give the payments industry more time to prepare for the change, sources say
** Investors were viewing the fee as a key monetisation opportunity for payments providers, which were expected to get a share
** India last month ended a free UPI regime by permitting a 0.4% fee for merchants on transactions exceeding 2,000 rupees ($20.67)
** YTD, PAYT up 25.7%, ONEM up 2.7%, PINL down 27.9%
($1 = 96.7400 Indian rupees)
(Reporting by Puyaan Singh in Bengaluru)
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