MobiKwik bags RBI in-principle PA-Physical nod, stock jumps 8%
MobiKwik shares surged nearly 8% to Rs 205.60 after RBI granted in-principle approval for its Physical Payment Aggregator license. The clearance lets MobiKwik scale offline merchant payments across kirana, fuel outlets and organised retail, targeting 10x growth on its 4.9 million merchant base by FY28.
MobiKwik shares jumped ~8% after receiving RBI's in-principle PA-Physical license, enabling expansion of offline merchant payments across small businesses, fuel outlets, and organised retail, targeting 10x merchant business growth by FY28.