<ul data-eligibleForWebStory="true"><li>Shares of One 97 Communications, the company behind Paytm, dipped by 10% on BSE to Rs 864.20 following Finance Ministry's denial of MDR imposition on UPI payments.</li><li>MDR is a fee earned by banks and payment providers for processing payments; the government waived MDR charges on UPI transactions to boost digital payments.</li><li>Reports speculated MDR might be reintroduced on large-ticket UPI transactions, causing the Finance Ministry to label these claims as baseless and alarming.</li><li>In March, the Payments Council of India requested a 0.3% MDR for UPI payments by large merchants and a nominal MDR for RuPay debit card transactions.</li><li>PhonePe and Google Pay dominate the UPI market with over 80% share, while newer players like Super.Money, Navi, BHIM, and Cred are gaining traction through incentives.</li><li>May witnessed 18.68 billion UPI transactions amounting to 25.14 lakh crore rupees, a 33% surge in volume compared to last year.</li><li>India's success with UPI has placed it as a leader in real-time payments globally, holding a 48.5% share by volume.</li></ul>

Paytm shares crash 10% as Finance Ministry dismisses MDR speculation

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