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

Sept 16 : Shares of Paytm, One Mobikwik, Yes Bank advanced on Wednesday after India's payments authority introduced a 0.4 per cent 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 per cent-8 per cent in early trade on Wednesday, while Axis Bank gained about 0.8 per cent. Pine Labs, which rose about 2.2 per cent, reversed gains to trade 3.2 per cent lower.