MobiKwik gains nearly 8% after RBI approves offline aggregator role
MobiKwik's stock got a solid boost, up nearly 8%, after the Reserve Bank of India gave it the green light to run as a payment aggregator for offline transactions.
This move means MobiKwik can step up its game in helping shops and businesses across India accept digital payments in person, making cashless transactions even easier.
MobiKwik targets merchants over 18-24 months
Over the next 18 to 24 months, MobiKwik is focusing on small businesses, retail stores, and fuel stations.
They are rolling out more Soundbox devices and card machines to help merchants accept payments smoothly.
CEO Bipin Preet Singh says offline merchant payments are a huge growth driver for India's digital economy, especially in areas where technology has not yet reached.
MobiKwik sees $2 trillion offline opportunity
With 4.9 million merchants already on board, MobiKwik sees offline payments as a massive opportunity, worth up to $2 trillion by FY28 (i.e., by March 31, 2028), according to Redseer data.
The new approval will let them build reliable infrastructure and earn more through fees, subscriptions, and device rentals.