Indian digital payment stocks fall on reports of UPI fee delay

Indian digital payment stocks fell after reports that authorities are considering delaying the rollout of merchant discount rates on UPI transactions from October 15 to January 1 of the following year. One 97 Communications shares fell as much as 9.9%, Pine Labs dropped 3.3%, One Mobikwik Systems declined 8.4%, and AvenuesAI slipped 2.7%. According to Business Standard, citing people familiar with the matter, a final decision is expected in the coming days. Amid opposition from retail traders, delaying the charges means merchants can continue using UPI payments free of charge throughout the festive season. The report noted that a panel led by the National Payments Corporation of India met on Wednesday to discuss the issue. NPCI did not respond to the media outlet's queries.