Rising costs to push fintechs to speed up revenue streams
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The move to slash merchant discount rates to zero for UPI and RuPay transactions has further impacted revenues of payment firms .
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BENGLAURU :
Digital payments firms will be forced to look at speeding up their revenue plans as compliance expectations from the government and the Reserve Bank of India (RBI) may increase operating and compliance costs.
RBI’s recent directions on digital payment security is the latest addition to the list of compliance requirements that banks and fintech firms will have to adhere to in the next six months, causing payment operating costs to almost double and, in some cases, triple.