Company Financial Rusult In Crore

About One Mobikwik Systems Limited

Incorporated in March 2008, Mobikwik is a fintech company providing prepaid digital wallets and online payment services.

The company provides a range of payment services, enabling consumers to:

1. Pay utility bills, such as mobile recharges, electricity, and credit card bills.
2. Make purchases at both online and offline merchants, including retail stores and fuel stations.
3. Transfer money to phone numbers, UPI IDs, or bank accounts
4. Check bank balances.
5. Scan QR codes and make payments using UPI or Rupay credit cards.

Key strengths

1. MobiKwik as a brand is well-entrenched in the digital payments landscape and consumers associate the company with comprehensive digital payments offerings.
2. Also, due to the prominent visibility of MobiKwik at merchant point-of-sale across key metros, new consumers are encouraged to join the network.
3. One of MobiKwik latest offerings, Xtra, is witnessing considerable traction. It is a product through which the company facilitates peer-to-peer (P2P) lending by our consumers through its NBFC-P2P partner. Xtra has accumulated ₹1,834.8 crore in assets under management (AUM), as of June 30, 2024, within 26 months of its launch.

Key risks

1. MobiKwik operations are subject to regulation, oversight and inspection by the Reserve Bank of India (RBI), and any adverse observations, proceedings or notices from the central bank may affect its operations.
2. Also, security breaches and attacks against the platform, and any potential breach of or failure to otherwise protect personal, confidential and proprietary information, could damage MobiKwiks reputation and materially and adversely affect its business, financial condition and results of operations.
3. Most importantly, the company faces intense competition, principally from other mobile payment companies, fintech companies, payment service providers, including commercial banks that issue payment cards or provide QR codes for payments, digital lending companies, including companies offering investment products and companies providing similar technology or distribution-driven financial services in India.