Shares of One Mobikwik Systems rallied more than 8% in Tuesday’s trade after the company announced that it has received an in-principle approval for its Payment Aggregator-Physical (PA-P) licence from the Reserve Bank of India (RBI).
The approval is expected to strengthen the company’s offline merchant payments business and expand its presence across India’s growing digital payments ecosystem.
At around 12:26 PM IST, One Mobikwik Systems shares were trading sharply higher after touching an intraday high of Rs 205.70 against the previous close of Rs 191.16. The stock opened at Rs 192.00 and hit an intraday low of Rs 191.20 during the session. The counter witnessed strong investor interest with live traded volume standing at over 33.50 lakh shares.
The company said the RBI approval marks a key milestone in its journey to become a full-stack fintech platform serving both consumers and merchants through payment and financial service offerings.
MobiKwik currently supports a merchant network of around 4.9 million through products including UPI QR, Soundbox, and EDC machines. The company has identified small businesses, oil & gas outlets, and organised retail as its three major focus segments over the next 18-24 months.
The fintech firm aims to aggressively scale Soundbox and EDC deployments as part of its broader target to achieve 10x growth in its merchant business by FY28.
According to the company, offline merchant payments continue to offer a significant growth opportunity in India. Industry estimates from Redseer peg the merchant payments gross merchandise value (GMV) opportunity at nearly USD 1.8-2 trillion by FY28.
The company highlighted that offline acquiring businesses offer stronger merchant discount rate (MDR) opportunities along with subscription and device rental income streams compared to consumer payment businesses that largely operate on zero-MDR rails.
MobiKwik also believes that a larger offline payments network can create long-term monetisation opportunities through merchant engagement and transaction-data-led merchant credit distribution.
The company added that the PA-P licence provides the foundation required to build compliant, secure, and scalable payment acceptance infrastructure for offline commerce in partnership with banks.
Earlier, the group had also secured the Payment Aggregator-Online (PA-O) licence through its subsidiary Zaakpay, strengthening its omnichannel payment capabilities across both online and offline merchant ecosystems.
On the stock performance front, One Mobikwik Systems shares have touched a 52-week high of Rs 334.00 and a 52-week low of Rs 151.46.
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