Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Payment Aggregators Face Challenges with Re-KYC Requirements Amid Zero MDR on UPI and Gaming Ban
Payment aggregators like Razorpay, Paytm, PhonePe, and Cashfree are grappling with the new RBI Master Direction on Payment Aggregators (September 2025), which mandates re-KYC for all merchants. This comes at a time when these platforms are already contending with wafer-thin margins due to the zero Merchant Discount Rate (MDR) on UPI transactions and the recent ban on online gaming. The additional compliance burden threatens to further strain their operations and profitability.