Indian digital payments firm
Cred’s leadership shift and Meta’s $900 million investment strengthen WhatsApp’s push into payments and business services. Kunal Shah departs Cred to lead WhatsApp; Miten Sampat becomes interim WhatsApp chief strategy officer as Cred scales toward an IPO.
The National Payments Corporation of India has announced a 0.4% merchant discount rate (MDR) on UPI payments above 2,000 rupees, to be applied from Oct 15. Transactions up to 2,000 rupees remain free for consumers. The move will be distributed among providers to fund infrastructure, resilience and cybersecurity. Critics warn it could push businesses and some consumers back to cash.