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Paytm Shares Rise Over 3% — What'S Driving The Stock And What …

As of now, 8.75 lakh shares (0.13 percent equity) worth Rs 56.78 crore changed hands at an average of Rs 648.45 per share. Know what’s going more on Paytm

Shares of One97 Communications, which operates online payments and financial services platform Paytm, surged nearly 3.5 percent intraday on Friday. On BSE, the shares rose as much as 3.52 percent to an intraday high of Rs 651.90 apiece, and it advanced to Rs 652 apiece intraday, up 3.59 percent on the National Stock Exchange (NSE).

At 12:56 pm,One97 Communications shares traded 2.62 percent higher at Rs 646.20 apiece on the BSE. The benchmark Sensex index was 1.42 percent up at that time.

As of now, 8.75 lakh shares (0.13 percent equity) worth Rs 56.78 crore changed hands at an average of Rs 648.45 per share.

This comes at a time when clarifications regarding United Payment Interface (UPI) new guidelines is going on. National Payments Corporation of India (NPCI) recently said that any UPI transaction of more than Rs 2,000 via prepaid payment instruments (PPI) like online wallets or pre-loaded gift cards, etc., will carry an interchange fee of up to 1.1 percent from April 1, 2023.Following this, Paytm announced that its full KYC wallet customers will be able to make payments on every UPI QR code and online merchant where UPI payments are accepted. The firm said that it will earn 1.1 percent interchange revenue when Paytm wallet customers (i.e., the KYC wallets issued by Paytm Payments Bank) make payments on merchants acquired by other payment aggregators or banks.

The bank will pay 15 basis points (bps) of charges for adding more than Rs 2,000 using UPI, and in turn, will also earn 15 bps when any other wallets use the bank to add more than Rs 2,000 using UPI. It has been said that the interchange fees will not be applicable to consumers for UPI payments from a bank account or from wallets (or from RuPay credit cards).

Merchants will also pay nothing unless they agree to accept and ok to pay any charge levied by QR company. It is rather for the QR company to decide how they pay this interchange to the issuer. To understand, PPIs are available as a choice to merchants who want to accept them.

Pricing of the same is by QR provider and only if a merchant accepts, it will be enabled.

In its latest note, Morgan Stanley, which has a target of Rs 695 on Paytm, has said it sees additional revenues for Paytm Payments Bank when Paytm’s full KYC wallet customers transact using their wallets on merchants acquired by other service providers.

“If well adopted by Paytm wallet users/merchants, the benefit could be meaningful as Paytm Payments Bank is the largest issuer of KYC wallets with over 100 million users,” it said.

(Edited by : C H Unnikrishnan)

First Published: Mar 31, 2023 1:47 PM IST

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