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PhonePe, Paytm, Pine Labs and MobiKwik are stepping up merchant acquisition and device deployment as UPI MDR returns and NPCI plans a Rs 3,000-crore fund
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The focus of consumer payment apps on doubling down on merchant acquisition comes at a time when fintechs are targeting MDR-based revenue from both the platform side and merchants | Representative Picture
Ajinkya Kawale Mumbai
3 min read
Last Updated :
Sep 24 2026 | 9:47 PM
IST
With the Payments Corporation of India (NPCI), in consultation with the Reserve Bank of India (RBI), putting together a ₹3,000 crore fund over the next three years to onboard merchants and accelerate electronic payments infrastructure in smaller cities, major financial technology (fintech) players are rushing to expand their merchant networks and deploy payment devices.
