 "MobiKwik")
MobiKwik plans to further ramp up soundbox and EDC machine deployments as it targets tenfold growth in merchant business by financial year 2027-28 (FY28)
2 min read Last Updated : May 26 2026 | 7:18 PM IST
Fintech firm MobiKwik on Tuesday said it had received the Reserve Bank of India (RBI)’s in-principle approval for a Payment Aggregator-Physical (PA-P) licence.
The company said it had identified small businesses, oil and gas outlets, and organised retail as three focus areas over the next two years with an aim to expand its market share across these sectors.
MobiKwik plans to further scale deployments of soundboxes and electronic data capture (EDC) machines as it targets tenfold growth in its merchant business by 2027-28 (FY28).
“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. We are grateful to the RBI for the approval and reposing its faith in us,” said Bipin Preet Singh, co-founder, managing director and chief executive officer (CEO), MobiKwik.
The company said offline merchant acquisition offers a ‘stronger merchant discount rate (MDR) opportunity, subscription and device rental economics’.
MobiKwik had more than 4.92 million merchants as of the fourth quarter of FY26 (Q4FY26).
The company also holds an online payment aggregation licence under the Zaakpay brand.
In April, the banking regulator approved its application for a non-banking financial company (NBFC) licence, enabling the launch of its lending arm, MobiKwik Financial Services Private Ltd (MFSPL), a wholly owned subsidiary.
The Gurugram-based firm reported a consolidated net profit of ₹4.38 crore for Q4FY26 compared to a loss of ₹56 crore in Q4 FY25. Sequentially, its net profit grew 8.3 per cent from ₹4.04 crore in Q3 FY26.
First Published: May 26 2026 | 7:18 PM IST
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