Shares of One MobiKwik Systems surged nearly 8% to hit its day's high of Rs 205.70 on the NSE on Tuesday after the company announced that it has received an in-principle approval for its payment aggregator - Physical (PA-P) license from the Reserve Bank of India (RBI), enabling the company to deepen its offline merchant payments business across India.
The company, in its filing to the exchanges, said the PA-P license will give the company the right foundation for consistent, long-term business compounding, strengthening its ability to build a compliant, secure and scalable payment acceptance infrastructure for offline commerce in partnership with Banks.
The group also received the Payment Aggregator - Online (PA-O) license through its subsidiary Zaakpay approximately a year ago, strengthening its omnichannel merchant payments capabilities across both online and offline commerce.
The approval marks an important milestone in MobiKwik’s evolution as a full-stack fintech platform serving consumers and merchants through payments and financial services, a company statement said.
MobiKwik supports a network of 4.9 million merchants through offerings such as UPI QR, Soundbox and EDC machines. The company has identified small businesses, oil & gas outlets, and organised retail as its three strategic focus segments over the next 18–24 months, with an ambition to materially expand its market share across each.
Commenting on the development, Co-founder, MD & CEO Bipin Preet Singh said offline merchant payments are emerging as one of the strongest growth drivers within India’s digital economy, particularly across under-penetrated markets beyond urban India. This PA-P approval strengthens the company's ability to scale merchant payment infrastructure across the country and sets MobiKwik up for 10X growth in merchant business by FY28.
"We are grateful to the RBI for the approval and reposing its faith in us. We remain focused on building secure, scalable and technology-led solutions that help merchants participate more effectively in India’s growing digital economy,” Singh said.
One MobiKwik Systems on Tuesday reported a net profit of Rs 4.38 crore for the fourth quarter of FY26, compared with a net loss of Rs 56 crore posted in the corresponding quarter of the previous financial year.
The company’s revenue from operations came in at Rs 289 crore, a jump of 8% from Rs 268 crore in the same quarter last year, the company said in a regulatory filing today.
EBITDA for the March quarter stood at Rs 10 crore, compared with an EBITDA loss of Rs 56.5 crore in the year-ago period.
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