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Amrish Rau

CEO, Pine Labs

Search every verified Amrish Rau interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. B. Rau, CEO of Pine Labs, discussed the impact of the new MDR (Merchant Discount Rate) framework on UPI transactions in a recent interview. He stated that the company had previously operated with zero MDR and noted that the new regulations, including a cap of ₹300, would keep high-value transactions affordable for Indian merchants. Rau said he was comfortable with the framework, citing that on Pine Labs' platforms, 78% of transactions are on UPI with an average ticket size of approximately ₹1,400, and he estimated that over 90% of transactions above ₹2,000 would incur charges of less than ₹70. Rau also addressed broader industry sentiment, suggesting that the new MDR framework could be a "game changer" for Indian fintech companies. He attributed recent foreign institutional investor outflows to perceptions of limited innovation and unclear monetization in the sector, but expressed optimism that this development would help change the mood toward Indian fintech and attract investment.

Recent appearances

Notable quotes

“Sir, I will give you a slightly different answer. What is happening now? You say from morning that FII funds are pulling out of India. Why are they pulling out? They are saying that boss, there is no innovation in India. There is no new technology in India. Fintech is such a technology that India is exclusively doing very well globally. Now what was also happening was investors were looking at it and saying Indian fi”

“Sir, I will give you specific numbers. Today, on our entire platform, online platform as well as POS, 78% of transactions are all on UPI, and in those 78% of transactions the average ticket size is ₹1400. I am giving you ₹1450 is the average ticket size. So as far as we are concerned, I believe that more than 90% of the transactions will be above ₹2000 will be less than ₹70 on our platforms also. So 78% of the transa”

“We priced ourselves in such a way that we can be viewed positively as we go out in the market and this was a conscious call taken by us.”

“India's top five banks are our customers. Top five retailers, that be DMart, Reliance or Shoppers Stop, all of them are our customers. All the three online companies are my customers and now Zepto, Blinkit, you know, Insta card, all of them are our customers.”

“हमने भैया करंट जो एफएमवी है फेयर मार्केट वैल्यू है उसके थोड़े डिस्काउंट में देंगे। जिसके वजह से पीएनएल इंपैक्ट विल गेट रिड्यूस्ड एंड दिस इज अ स्ट्रेटेजिक कॉल माय बोर्ड एंड मी वी टूक टुगेदर एंड दैट इज़ व्हाट यू विल गेट टू सी इन माय पीएनएल”

“हमारा बिलीफ है पेमेंट्स विल बिकम इनविज़िबल और इनविज़िबल पेमेंट्स के हम मार्केट लीडर्स हैं। हमारे पिछले तीन साल के आप रिजल्ट्स देखोगे आपको दिखेगा इनविज़िबल पेमेंट्स इंडिया में हम सबसे ज्यादा चला रहे हैं।”

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