MobiKwik | Exclusive News

MobiKwik claims to be largest digital wallet player in terms of transaction value

8Jul

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MobiKwik claims to be largest digital wallet player in terms of transaction value

New Delhi, July 08, 2024. MobiKwik on Monday said it has become the largest digital financial services platform in terms of PPI Wallet transactions by value for April and May. Quoting Reserve Bank of India (RBI) data, MobiKwik said it has gained its market share in financial transactions through the Prepaid Payment Instrument (PPI) Wallet during the two months. The company saw its market share by value grow from 11 per cent in March 2024 to 20 per cent in April and further to 23 per cent in May.

How to use MobiKwik Pocket UPI for simplified UPI payments

5Apr

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Feature, National News

How to use MobiKwik Pocket UPI for simplified UPI payments

Jaipur, April 05,2024. The fintech sector has rapidly evolved by leveraging technology to offer cutting-edge solutions thatenable users to manage their finances more effectively and securely. However, recent data from the Reserve Bank of India (RBI) reveals that during the first half of FY24, over 14,000 banking-related scams took place. As these scams become more sophisticated, fintechs are proactively implementing solutions to strengthen the security and trust of their users. MobiKwik, a fintech company is leveraging the power of UPI by enabling its users to make safe transactions with Pocket UPI - a powerful feature that enhances the functionality of its digital Wallet. Pocket UPI enables users to leverage their MobiKwik Wallet to make payments across all operators’ QRs and UPI...

MobiKwik introduces Pocket UPI to facilitate UPI payments without linking bank account

26Feb

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Business News, Feature, National News

MobiKwik introduces Pocket UPI to facilitate UPI payments without linking bank account

Gurugram, February 2024. ONE MOBIKWIK SYSTEMS LIMITED (MobiKwik), a fintech company, introduced a new feature on its platform, ‘Pocket UPI’, that enables users to have an enhanced control over budgeting and finance management. Pocket UPI allows users to make UPI payments through MobiKwik Wallet without linking their bank account and therefore, giving more power in the hands of the users with an additional choice while they make UPI payments. Pocket UPI aids in decluttering bank statements by consolidating all UPI transactions, thereby offering a clearer insight into spending habits. Currently, with UPI directly linked to bank accounts, users often overlook minor and recurring expenses. Users can load their Wallet with the amount they need to spend and then top up again...

MobiKwik Sparks Up the Festive Sason with Un missable Discounts and Cashback Extravaganza!

9Nov

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Business News, Feature, National News

MobiKwik Sparks Up the Festive Sason with Un missable Discounts and Cashback Extravaganza!

Gurugram, November 09 2023. Get ready for an electrifying Diwali with MobiKwik’s treasure trove of irresistible discounts and cashbacks thatextend throughout the month of November on categories such as electronics, apparel, jewellery, groceries, wellness and festive delicacies.Get set to enjoy incredible savings on your favorite brands! For the tech geeks looking for upgrades, MobiKwik has got thrilling cashback deals from Croma and Reliance Digital, perfect for all budgets. Plus, music enthusiasts, celebrate with Bose for up to Rs 1000 cashback! For mobile upgrades, choose MobiKwik at Samsung and more for an incredible up to Rs 2500 and 4% cashback. You can also elevate your festive style with MobiKwik's cashback deals.Get 4% cashback at Reliance Trends (up to Rs 200), Rs 200 on ...

Reserve Bank of India grants in-principle authorisation to ‘Zaakpay’ to act as online payment aggregator

26Oct

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Business News, Feature, National News

Reserve Bank of India grants in-principle authorisation to ‘Zaakpay’ to act as online payment aggregator

Gurugram, October 26, 2023. Zaakpay, a reliable and secure payment gateway arm of MobiKwik, has received in-principle authorisation from the Reserve Bank of India (RBI)to operate as a payment aggregator. RBI’s in-principle authorisation will enable Zaakpay to onboard new merchants onto its platformfor quick and easy processing of online payments. Zaakpay operates and works with leading brands across sectors such ase-commerce, mobility,bill Payments and more. Zaakpay is a trusted payment gateway partner for multiple merchants and offers 100+ different payment methods across UPI, Debit andCredit cards, Net Banking, and mobile wallets options. Zaakpay offers multiple levels of encryption, system-level firewalls and aims to abide by all PAPG compliancessuch as PCI DSS, PA DSS, Tokenis...

MobiKwik reports profitable growth in Q2 FY24; Strong H1 performance in line with FY24 goals

5Oct

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Business News, Feature, National News

MobiKwik reports profitable growth in Q2 FY24; Strong H1 performance in line with FY24 goals

Gurugram, October 05, 2023. MobiKwik, India’s leading digital banking platform, released its unaudited Q2FY24 results today with a52% growth in revenues over the corresponding period in FY23 and its second consecutive quarter of PAT profitability. The revenues for the quarter stood at INR 208 crores, a growth of 17% over the previous quarter in the same fiscal, with a PAT of INR 5 crores. With a 58% increase in revenues compared to H1FY23, MobiKwik has scaled its revenues to INR 385 crores with a PAT of INR 8 crores in H1FY24. “Our purpose is to make digital banking services accessible to people across demographics pan-India, and we are seeing positive uptake on our platform. The results are evident with another quarter of sustained revenue growth in line with our vision for th...

MobiKwik launches Lens to demystify your money

11Sep

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Business News, Feature, National News

MobiKwik launches Lens to demystify your money

Gurugram, September 11, 2023. MobiKwik, a leading digital banking platform, today launched Lens, an industry-first financial product that will empower users with knowledge of their money and aid in financial wellness. Lens leverages Account Aggregator framework which helps users share data across financial institutions in a secure and efficient manner. Mobikwik Lens uses advanced technology and data science to make complex financial data, digestible and actionable. Earlier, it was a tedious manual process involving countless spreadsheets and now it is available at one’s fingertips. Excited about the potential of MobiKwik Lens, Bipin Preet Singh, Co-founder & CEO of MobiKwik, said, “Lens addresses the fundamental aspects of financial wellness – awareness and control over one's ...

MobiKwik becomes the First Indian Fintech to Post Profits

10Aug

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Business News, Feature, National News

MobiKwik becomes the First Indian Fintech to Post Profits

Gurugram, 10th August 2023. MobiKwik, leading digital banking platform, has recorded profitablegrowthinQ1ofFY23-24withanadjustedEBITDAofINR13.6crores-181%increase Y-o-Y. This is the second consecutive quarter when MobiKwik has registered a profitable growth. ThecompanyregisteredINR177croresinrevenuesinQ1FY23-24,agrowthof68%in the corresponding quarter last fiscal and its contribution margin rose by 108% to INR 73.9 crores. MobiKwik becomes the first fintech in the country to post PAT positive in Q1 of FY23-24 at INR 3 crores. InQ4FY2022-23MobiKwikgenerated160croresinrevenue,a38%contributionmarginand recordedanadjustedEBITDAofINR3crores. WithastrongperformanceinFY2022-23.,thecompanyisgearedfora2Xgrowthinthefiscal yeartoanestimatedINR1100coresinFY2023-24.Thecompanyalsoprojects...