After banks, PhonePe, Paytm and Google Pay to gain most from UPI MDR

This article discusses the financial implications of UPI Merchant Discount Rate (MDR) changes for major digital payment providers in India. It highlights how companies like PhonePe, Paytm, and Google Pay are positioned to benefit from evolving payment ecosystem regulations.
Why it matters
Changes in digital payment fee structures directly impact the profitability and market strategy of the dominant fintech players in the world's largest real-time payment market.
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