MobiKwik secures RBI in-principle nod for offline payment aggregator licence
Approval clears MobiKwik to onboard physical merchants directly via Zaakpay, targeting kirana, fuel and organised retail. Fintech aims for 10x merchant business growth by FY28, scaling soundboxes and EDC deployments across its 4.92 million merchant base.
MobiKwik received RBI in-principle approval for a Payment Aggregator-Physical licence, targeting small businesses, oil & gas outlets, and organised retail. It plans to scale soundboxes and EDC machines for 10x merchant business growth by FY28.