One MobiKwik Systems Ltd. (MobiKwik) continues to strengthen its position in India’s digital payments landscape, emerging as one of the country’s top three fastest-growing UPI apps in Q2FY26. Backed by its status as India’s largest digital wallet with a 19% share of the PPI wallet GTV as of September 2025, the company has reported strong momentum across both user activity and transaction volumes.
Through 2025, UPI usage in India has expanded rapidly, and by October 2025, overall transactions across leading TPAPs had grown nearly three times year-on-year. MobiKwik has kept pace with this acceleration, delivering one of the fastest growth rates in UPI transactions across the ecosystem. Its expanding UPI user base is becoming a crucial engine for engagement, particularly as the company deepens its focus on attracting quality users who actively interact with both payments and credit services. This approach supports higher ARPU and lays the foundation for long-term value creation.
A major catalyst behind this surge has been the rapid uptake of Pocket UPI, MobiKwik’s wallet-powered UPI feature. Pocket UPI allows users to pay through UPI directly from their MobiKwik Wallet without linking their primary bank account, giving them more control over daily spending. Since transactions do not appear in bank statements and sensitive banking details are never exposed, Pocket UPI has gained popularity as a cleaner, safer and more convenient option for everyday purchases. The ability to scan any QR code, send money via mobile number or pay through a UPI ID has made the experience seamless across retail, dining, groceries, fuel and other high-frequency categories.
The company has also invested heavily in refining its consumer app experience. During the quarter, MobiKwik recorded a 38% quarter-on-quarter increase in UPI transaction count and a 28% rise in UPI GMV. A smoother interface, faster loading, more efficient routing logic and optimised payment flows have contributed to these gains by improving success rates and reducing friction. These enhancements also bolster the platform’s risk-management and fraud-control framework, creating cleaner transaction pathways and improving safety at scale.
MobiKwik’s growing adoption across Bharat reflects the strong trust it has built among digital-first users. The platform continues to serve millions who rely on it for secure payments and credit access, enabling them to participate confidently in India’s fast-evolving digital finance ecosystem. With UPI remaining a strategic pillar of the company’s growth plans, MobiKwik is well positioned to sustain its upward trajectory as one of the country’s leading players in digital payments.
