Business Update26 May 2026, 12:20 pm
MobiKwik Gets RBI Nod for Offline PA License, Eyes 10X Growth
AI Summary
One MobiKwik Systems Ltd. has received in-principle approval from the Reserve Bank of India (RBI) for a Payment Aggregator - Physical (PA-P) license. This approval enables MobiKwik to expand its offline merchant payments business across India, targeting a 10x growth by FY28. The company aims to focus on small businesses, oil & gas outlets, and organized retail, leveraging its existing network of 4.9 million merchants. MobiKwik also holds a Payment Aggregator - Online (PA-O) license through its subsidiary Zaakpay.
Key Highlights
- MobiKwik secures RBI's in-principle approval for Payment Aggregator - Physical (PA-P) license.
- Company aims for 10X growth in merchant business by FY28.
- Strategic focus on small businesses, oil & gas, and organized retail sectors.
- MobiKwik already supports 4.9 million merchants via UPI QR, Soundbox, and EDC machines.
- Offline merchant payments GMV opportunity estimated at USD 1.8-2 trillion by FY28.
Price Impact
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