Paytm vs Pine Labs: Which stock can gain more if UPI MDR returns?
- Posted on August 6, 2026
- By Financial Express
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- 1 min read
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Paytm vs Pine Labs: Which stock can gain more if UPI MDR returns?
Paytm vs Pine Labs: As proposed amendments to the Payment and Settlement Systems Act bring UPI Merchant Discount Rate (MDR) back into focus, global brokerage Jefferies estimates an industry revenue pool of up to Rs 10,000 crore. Both Paytm and Pine Labs posted strong Q1 FY27 growth, but analyst projections reveal one clear winner that could see up to a 35% surge in EBITDA and profits if MDR returns.
