Share price of payment aggregators/fintech companies including Paytm, Mobikwik, Pine Labs gained sharply on Monday as analysts raised the target price of these companies expecting the proposed introduction of Merchant Discount Rate (MDR) charges on large UPI merchant transactions could boost their profitability. The market cap of One97Communications crossed Rs one lakh crore mark and stood at Rs 101561.90 crore at market close. Experts said that the proposed UPI monetisation will boost the profit margins of other payment aggregators too including PhonePe, GooglePay, BharatPe, RazorPay and PayU. “Our base case assumes a headline MDR of around 35 basis points applicable only to a subset of UPI Payment to Merchant transactions. Given the highly skewed nature of UPI transaction values, even a narrow charging perimeter can capture a meaningful share of payment value.