MobiKwik Gets RBI’s In-Principle Nod For Offline Payment Aggregator Licence

Listed fintech major MobiKwik has received the Reserve Bank of India’s (RBI) an in-principle approval to operate as a payment aggregator-physical (PA-P) licence.

Upon final approval of the licence, MobiKwik can pursue business expansion in offline merchant business.

In a statement, the company said that the PA-P licence strengthens its company’s ability to build compliant, secure and scalable payment acceptance infrastructure for offline commerce in partnership with banks. 

“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 our ability to scale merchant payments infrastructure across the country and sets us up for 10x growth in merchant business by FY28,” cofounder, managing director and CEO Bipin Preet Singh said. 

This marks the second key regulatory approval for the company within weeks. In April, the fintech company secured the NBFC licence from the central bank. The licence cleared the path for MobiKwik to foray into the credit segment.

On the PA front, MobiKwik’s subsidiary Zaakpay received the RBI’s nod to operate as an online payment aggregator, to help expand its payment aggregation business.

While MobiKwik has been seeing key regulatory clearances in recent times, it has also come under the scanner for some of its other products. Last week, Bengaluru Police registered two FIRs against the fintech firm and its lending partner Lendbox for allegedly cheating investors and misusing funds via their P2P lending platform Mobikwik Xtra.

Earlier yesterday, the fintech company issued its clarification of Bengaluru Police registering FIRs against MobiKwik and Lendbox over alleged blocking customer withdrawals on P2P lending platform MobiKwik Xtra.

In a statement, MobiKwik clarified that it merely acted as a distribution partner for the P2P lending product offered by Lendbox, while it also claimed that customers were informed about the RBI-mandated modifications (in August 2025) in the P2P lending product.

On the financial front, MobiKwik reported a consolidated net profit of ₹4.4 Cr in Q4 FY26 as against a loss of ₹56 Cr in the year-ago quarter. Revenue from operations also grew 7.8% to ₹288.7 Cr during the quarter under review from ₹267.8 Cr in Q4 FY25. 

Shares of the company were last up 3.7% at ₹198.40 apiece on the BSE, as of 14:30 IST today.

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