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

Sept ⁠16 (Reuters) - Shares of ⁠Paytm, One Mobikwik, ‌Yes Bank 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.

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印度支付公司股价上涨,UPI手续费提振营收前景

FILE PHOTO: A QR code of Paytm is seen at a mobile repairing shop in Kolkata, India, November 9, 2021. REUTERS/Rupak De Chowdhuri/File Photo

Sept ⁠16 (Reuters) - Shares of ⁠Paytm, One Mobikwik, ‌Yes Bank 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.

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