One97 Communications gains 5% and One Mobikwik rises 4% after Budget 2026 allocates Rs 2,000 crore subsidy for UPI and RuPay debit card payments.

The Indian government has reduced the budget for the Unified Payments Interface (UPI) and RuPay incentive scheme by nearly 10% for FY27.

The government sharply raised UPI incentives in the revised FY26 Budget and FY27 estimates, but industry bodies warn the allocation remains inadequate to sustain scale, innovation and nationwide ...

The incentives have become crucial for digital payment companies as UPI and RuPay debit card transactions currently operate under a zero merchant discount rate regime, meaning merchants pay no fees ...

MDR or no MDR: that is the big question for India’s payments apps and the UPI frontrunners — PhonePe, Google Pay and Paytm — or even the likes of CRED, Groww, Flipkart’s Super.Money, Navi and others ...

Fintech major MobiKwik is eyeing UPI as its next engine of growth and is not worried about the existing larger players in the market, co-founder Upasana Taku told businessline in an interaction. Taku ...

MobiKwik is tightening costs and chasing profitability, with hopes to turn EBITDA-positive in the next couple of quarters, despite lagging rivals like Paytm and PhonePe In the first quarter of FY26, ...

Shares of digital payments firm MobiKwik surged 82% to ₹507.5 ($6) on their first day of trading. The Indian fintech’s $69 million IPO comes amid fierce competition from larger rivals, and it pushes ...