| The approval, granted under the Payment and Settlement Systems Act, 2007, will enable the company to expand its offline merchant payments business. 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. It aims to significantly ramp up Soundbox and EDC deployments to meet its stated goal of 10x growth in merchant business by FY28. Offline merchant payments represent a large and under-penetrated opportunity in India, with industry estimates pegging the merchant payments GMV opportunity at USD 1.8-2 trillion by FY28 (Source:Redseer). Bipin Preet Singh, co-founder, MD & CEO, 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 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. We remain focused on building secure, scalable and technology-led solutions that help merchants participate more effectively in India's growing digital economy.' One MobiKwik Systems operates a digital payments and financial services platform offering wallet, UPI, payment gateway, lending and investment products. The company serves over 189.6 million registered users and 4.92 million merchants in India. The company reported a consolidated profit after tax of Rs 4.4 crore in Q4 FY26 against a loss of Rs 56 crore in Q4 FY25, resulting in a positive swing of Rs 60.4 crore Total income increased 6.3% YoY to Rs 296.0 crore in Q4 FY26 from Rs 278.5 crore in Q4 FY25. Powered by Capital Market - Live News |