• Digital lending profitability: Following post-IPO regulatory disruptions, MobiKwik has stabilized its digital lending operations, driving profitability over the last three quarters.
• Forex feature launch: In partnership with the RBI, NPCI, and CCIL, the company launched a real-time Forex purchasing service supporting six currencies, allowing users to lock in rates via bank accounts to top up Forex cards or collect cash at bank branches.
• Merchant and credit expansion: MobiKwik has onboarded 4 to 5 million merchants using an in-principle PA-P license, expanding its footprint to scale tailored lending products for underserved consumers and micro-MSMEs.
• UPI MDR expectations: MobiKwik is optimistic about the implementation of Merchant Discount Rates (MDR) on wallet over UPI and merchant transactions, expecting regulatory frameworks to be established soon.