India’s payment firms jump as UPI fee boosts revenue outlook

A QR code of Paytm is seen at a mobile repairing shop in Kolkata, India, November 9, 2021. REUTERS

Sept 16 (Reuters) – Shares of Paytm  One ​Mobikwik , Yes Bankew 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