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.
What happened
Mobikwik · MobiKwik received RBI in-principle approval for a Payment Aggregator-Physical licence, targeting small businesses, oil & gas outlets, and organised
Key facts
- 4.92 million merchants
- 10x growth by FY28
- Q4FY26 net profit ₹4.38 crore
- Q4FY25 loss ₹56 crore
- Q3FY26 profit ₹4.04 crore
- 8.3% sequential growth
Why this matters
MobiKwik joining the offline PA club intensifies merchant-acquiring competition with Razorpay, Pine Labs and Paytm—watch for soundbox pricing pressure and potential acquisition targets in regional EDC distributors.