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Selective UPI MDR Will Need Reliable Merchant Intelligence, Not Just a Pricing Rule

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3 months ago

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As India reopens the UPI economics debate, the implementation challenge will be identifying, classifying and treating merchants fairly

BANGALORE, India, Aug. 21, 2026 /PRNewswire/ — At CARD91, we believe the UPI MDR debate must go beyond pricing. Any selective framework will require accurate merchant verification, consistent classification and ongoing risk visibility to protect legitimate businesses and ensure fair implementation.

The passage of the Taxation and Other Laws (Amendment) Bill, 2026 has reopened the industry discussion around the Merchant Discount Rate, or MDR, on UPI transactions.

The amendment creates a legal pathway under which the existing zero-MDR structure may be modified for specified digital payment transactions. However, the Government has clarified that no immediate charge has been introduced. Consumers and person-to-person payments will remain free, small merchants will remain protected, and no final MDR framework has been announced.

Beyond the question of whether MDR should return, the industry must consider how any selective framework would work in practice. If future rules differentiate between transactions or merchant segments, banks and acquiring institutions will need accurate and current information about the businesses accepting those payments.

Incorrect merchant identity, outdated business information or inaccurate classification could result in inconsistent policy application and unnecessary disputes.

“The most difficult part of a selective MDR framework may not be setting a rate; it will be applying the policy consistently to the right merchant,” said Ajay Pandey, CEO, CARD91. “Whatever parameters are eventually adopted, banks and acquirers will need verified and explainable information about the businesses accepting payments. The quality of merchant data will directly influence how fairly any differentiated framework operates.”

Four Questions the Ecosystem Must Address

1. Is the merchant identity properly verified?

Merchant verification must go beyond collecting documents. Banks and acquirers need to establish that the business is genuine, operational and consistent with the credentials submitted during onboarding.

2. Is the merchant classified correctly?

A merchant’s declared activity, actual business model and assigned Merchant Category Code should remain aligned. Institutions also need reviewable processes for identifying and correcting classification errors.

3. Has the merchant’s profile changed?

Verification should not end after onboarding. Business activities, ownership details, digital footprints and transaction behaviour can change over time. Material changes may require additional review, but controls should remain proportionate and should not create unnecessary friction for genuine merchants.

4. What happens when the system gets it wrong?

Merchants need a clear process for correcting identity, classification or policy application errors. Explainable decisions and transparent redress will be essential if financial policies are applied differently across merchant segments.

Why Merchant Intelligence Matters Now

UPI processed 23.66 billion transactions worth approximately ₹29.88 lakh crore in July 2026. At this scale, inaccurate merchant records can create operational complexity for financial institutions and businesses.

The issue extends beyond MDR. Reliable merchant information also supports appropriate transaction limits, effective fraud controls, regulatory compliance and accurate payment categorisation.

In July 2025, before the current MDR discussion, CARD91 introduced an AI-led merchant verification and classification capability to help regulated institutions strengthen business verification and classification. The current debate highlights why accurate and current merchant information matters beyond onboarding.

A risk score or automated system should not independently decide whether a merchant is subject to MDR. Any future structure must follow the regulations and operating rules established by the Government, RBI and NPCI. Technology should support institutional judgement and consistent implementation, not replace them.

“The goal should not be to add more friction to merchant acceptance,” said A.G. Ramakrishna, Chief Product Officer, CARD91. “It should be to ensure that legitimate businesses are treated consistently while financial institutions have the information required to manage risk and implement policy responsibly.”

India built UPI’s reach by making digital payment acceptance simple and accessible. If a selective MDR model is introduced, preserving that accessibility will depend not only on the pricing decision but also on the quality, transparency and fairness of its implementation.

About CARD91

CARD91 is a payments and onboarding risk infrastructure provider, enabling regulated entities to launch and scale customer programs with ease. The platform supports seamless onboarding journeys, fraud detection, credit decisioning, card issuance across credit, prepaid, and forex, and UPI stack capabilities across issuance and acquiring.

Through its NPCI-certified capabilities and technology stack, CARD91 helps institutions design bespoke customer payment programs and  market them with speed, security, and a seamless digital experience. Built by a team of bankers and technologists and proudly made in India, CARD91 operates across key financial hubs, including Mumbai, Bangalore, Delhi, and Chennai.

For more information, visit https://card91.io/ or contact sales@card91.io.

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NatGold Digital Announces Immediate Delisting of NATG from MEXC Following U.S. Treasury Action

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November 7, 2026

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CORAL GABLES, Fla., Nov. 7, 2026 /PRNewswire/ — NatGold Digital Ltd. (“NatGold” or the “Company”) today announced that it has requested the delisting of the NatGold Token (NATG) from MEXC, a global cryptocurrency exchange where NATG is currently listed, with immediate effect.

The decision follows the U.S. Department of the Treasury’s announcement of an order issued by its Financial Crimes Enforcement Network (FinCEN) under the Combating Russian Money Laundering Act, prohibiting U.S. financial institutions from processing funds transfers involving MEXC Global.

NatGold is a U.S. company whose wholly owned subsidiary, NatGold Integrity Vault LLC, is registered with FinCEN as a money services business. The Company is acting ahead of the order’s effective date.

“As a U.S. company operating through a FinCEN-registered money services business, we are acting immediately in response to Treasury’s decision,” said Mark Radke, Executive Chairman of NatGold Digital. “Trust is a cornerstone of NatGold’s operating structure, and responding promptly to this regulatory action reflects that commitment.”

NatGold is in advanced discussions with multiple regulatory-compliant exchanges and venues  serving global markets, including the United States, and intends to replace MEXC as soon as possible. Once new listings are confirmed, NATG token holders will be advised of the arrangements and encouraged to register accounts and link their wallets, as applicable, to continue trading.

About NatGold Digital Ltd.

NatGold Digital Ltd. is the global leader in digital gold mining and the architect and operator of a patent-pending, non-extractive platform designed to unlock the intrinsic value of technically verified in-ground gold resources that remain securely stored in Mother Nature’s Vault. NatGold Tokens are structured to represent standardized unit interests in NatGold Certified Resources, disclosed under internationally recognized geological Technical Reports — without physical extraction, processing, or movement of gold. The result is a superior fiat money alternative designed to help lead a global monetary reformation.

For additional background, please visit NatGold.com or our official YouTube channel for videos and information about our digital mining ecosystem: youtube.com/@NatGold_Digital.

Contact

Media@NatGold.com
InvestorServices@NatGold.com
+1 (646) 825-3038

The information in the above release has been prepared by NatGold Digital Ltd. (“NatGold”) using its best efforts to realistically and factually present the information contained herein. However, subjective opinion, reliance on factors outside NatGold’s control, and external information sources unavoidably mean that NatGold cannot warrant the information to be exhaustive, complete, or sufficient. The information provided herein is intended solely for general informational purposes and does not constitute an offer or solicitation for the purchase or sale of any shares or securities of NatGold or for the purchase or sale of any NatGold Tokens. NatGold Tokens are not intended to be “securities” in any jurisdiction, and NatGold makes no claim or representation related to the value of NatGold or NatGold Tokens. Potential investors should seek advice from a qualified financial dealer before investing in NatGold. There are substantial risks associated with investing in development-stage digital assets and technology companies.

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SOURCE NatGold Digital Ltd.

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What to Look for in an Online GLP-1 Provider: Meant Outlines Five Questions Worth Asking Before Signing Up

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2 hours ago

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November 7, 2026

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MANASSAS, Va., Nov. 7, 2026 /PRNewswire/ — As more telehealth companies offer GLP-1 care, the options can look alike from the outside, and telling them apart takes more than a glance at a landing page. Meant is sharing five questions consumers can ask when choosing an online GLP-1 provider, along with how it approaches each one.

Five Questions Worth Asking

Who makes the clinical decisions? A trustworthy provider should be clear about which licensed clinicians review each person’s information. At Meant, those decisions are made by licensed providers through its clinical partner, OpenLoop Health.Is there a real evaluation first? Look for a health-history review before anything is prescribed, and for plain language that a prescription is never guaranteed. Meant’s online assessment covers health history, current medications, and goals.Can the company’s credentials be checked? Independent certifications are one signal consumers can verify for themselves. Meant displays the seal for its LegitScript certification on its website.Is it clear who fills prescriptions? Providers should be open about the pharmacies they work with and whether those pharmacies are licensed in the United States.Is ongoing support spelled out, limits included? Good providers explain what follow-up looks like and who handles which questions. Meant pairs care with an optional Care Coach, and medical questions go to the care team.

A certification is a transparency signal, not a government approval or a promise about results, and no checklist replaces a conversation with a licensed clinician. Meant does not diagnose or prescribe, and treatment is not guaranteed for every applicant.

Take a Closer Look

Consumers who want to see how the assessment, clinical oversight, and coaching fit together can visit Meant‘s website and compare the details against the questions above.

About Meant

Meant is a health and wellness technology company focused on personalized GLP-1 weight-care support delivered through telehealth. The platform combines an online clinical assessment, licensed oversight through OpenLoop Health, Care Coach support, and supplemental wellness resources. Meant does not itself diagnose or prescribe; clinical decisions are made by its clinical partners. Learn more at meant.health.

Meant Health, Inc.
support@meant.health
1-512-879-9187
10199 Dean Drive, Manassas, VA 20110, USA

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SOURCE Meant

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Capturing the Beauty of Anhui through Images–2026 Anhui Photography Season Concludes

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4 hours ago

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November 7, 2026

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HUANGSHAN, China, Nov. 7, 2026 /PRNewswire/ — A news report from Crionline.

Spanning summer and autumn across three successive photography tours, the “Picturesque Anhui • Imaging Anhui” 2026 Anhui Photography Season officially wrapped up on November 4. Co-hosted by the Fédération Internationale de l’Art Photographique (FIAP), the Anhui Provincial Department of Culture and Tourism, and the Foreign Affairs Office of Anhui Provincial People’s Government, the event drew 116 photographers from 38 countries and regions. They visited 46 distinctive cultural and tourism attractions across five cities: Hefei, Chizhou, Anqing, Huangshan and Xuancheng. Through their lenses, they presented Anhui’s landscapes, cultural heritage and vibrant everyday life to the world.

Looking back on the three sessions: The first session kicked off in Hefei. Photographers documented the city’s innovation-driven urban landscape as well as the picturesque scenery and intangible cultural heritage of Chizhou’s ancient villages. The second session took them deep into Huangshan and Anqing. They explored time-honored Huizhou villages, magnificent mountains and Huangmei Opera culture, immersing themselves in Huizhou traditions and the cultural charm of the Yangtze River region in western Anhui. The concluding third session was held in Huangshan and Xuancheng, focusing on brilliant autumn hues, Huizhou‑style ancient architecture, and the traditional craftsmanship behind the Four Treasures of the Study.

From lush summer greens to rich autumn colours, the photographers produced more than 11,000 high‑resolution photographs. Reflecting the unique perspectives of international participants, these images will be disseminated globally in diverse forms. They will help tell compelling stories of Anhui’s cultural tourism and further boost the province’s international profile.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/capturing-the-beauty-of-anhui-through-images2026-anhui-photography-season-concludes-302932583.html

SOURCE Crionline

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