One Mobikwik Systems Limited (MobiKwik) (NSE: MOBIKWIK) announced the expansion of its FX Retail offering from one to six currencies, adding AED, CAD, GBP, EUR, and CHF to its existing USD offering. This move makes MobiKwik the only private player to offer a multi-currency FX Retail solution in partnership with NPCI Bharat BillPay Limited (NBBL). The expanded offering was launched at the Global Fintech Fest (GFF) 2026.

Enhanced Accessibility for International Transactions

The multi-currency offering enables customers to access foreign exchange digitally for a wider range of international travel and payment needs. Through the FX Retail offering, users can digitally book foreign currency, top up Forex cards, and remit funds overseas. Currency notes can be collected through branches, while remittances can be processed through bank redirection and branch channels.

Partnership with NPCI Bharat BillPay Limited

The service is powered by NBBL in collaboration with the Clearing Corporation of India Ltd. (CCIL) and is available through the Bharat Connect ecosystem. This partnership aims to bring greater convenience to consumers by providing transparent, bank-linked pricing and same-day fulfillment, subject to applicable regulatory requirements and service conditions.

Commenting on the expansion, Bipin Preet Singh, Co-founder, MD & CEO, MobiKwik, said, “At MobiKwik, our goal is to use technology to simplify everyday financial experiences. As more Indians travel, study, and transact overseas, their foreign exchange requirements are becoming increasingly diverse. With our multi-currency offering, we are addressing these needs through a simple, seamless experience on the MobiKwik app.”

The current offering is available to resident individuals, subject to PAN and primary-account-holder validation. Customers can transact up to USD 3,000 equivalent per transaction for currency notes and USD 10,000 equivalent per transaction for card and remittance services, with equivalent limits applicable across the supported currencies.

This expanded FX Retail offering is part of MobiKwik’s broader focus on making everyday digital financial experiences simpler, faster, and more accessible.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of One Mobikwik Systems Limited

One Mobikwik Systems Limited belongs to the Technology › Software – Infrastructure sector. Here’s a quick read on where the business and the stock stand today.

One posts a 3.3% three-month gain, but softens in the last few weeks. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. No meaningful dividend — total return is entirely dependent on capital appreciation. The stock gives back 5.5% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 27.5% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of One Mobikwik Systems Limited.

One Mobikwik Systems Limited (NSE: MOBIKWIK) announced the completion of the transfer of its entire digital lending business to MobiKwik Distribution Services Private Limited (MDSPL), its wholly-owned subsidiary, on August 18, 2026. This strategic move aims to consolidate lending operations under a dedicated structure, enhancing operational efficiency and regulatory compliance.

Leadership Change

To spearhead this new phase, Manish Pathania, former head of digital lending at Bajaj Markets, has been appointed as the Chief Business Officer of MDSPL. Pathania brings nearly two decades of experience in digital lending, business development, and strategic planning, which is expected to drive the next phase of MobiKwik’s lending franchise.

Growth Projections

The transition aligns with MobiKwik’s vision to achieve quarterly disbursals of ₹1,000+ crore in the upcoming quarters. This ambitious target is supported by AI-led growth initiatives and new lender partnerships, positioning MobiKwik to scale its lending business significantly.

As MobiKwik continues to leverage its extensive customer base and technology platform, the company is well-poised to deepen credit penetration across its 9.5 crore engaged customers, maintaining a disciplined approach to underwriting, credit risk, and portfolio quality.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of One Mobikwik Systems Limited

One Mobikwik Systems Limited belongs to the Technology › Software – Infrastructure sector. Here’s a quick read on where the business and the stock stand today.

One posts a 7.6% three-month gain, but softens in the last few weeks. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. Revenue grows at 31.0% and profits at 10.0% CAGR. However, that pace does not justify a premium multiple. The stock gives back 9.5% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 31.0% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of One Mobikwik Systems Limited.

One Mobikwik Systems Limited (NSE: MOBIKWIK) has secured in-principle approval for its Payment Aggregator – Physical (PA-P) license from the Reserve Bank of India (RBI). This approval positions the company to aggressively scale its merchant payment business to 10X by FY28. The approval reaffirms the strength of the group’s regulatory foundation and governance track record. MobiKwik already supports a network of 4.9 million merchants through offerings such as UPI QR, Soundbox, and EDC machines. The company has identified small businesses, oil & gas outlets, and organized retail as its three strategic focus segments over the next 18-24 months, with an ambition to expand its market share across each.

Strategic Growth Plans

MobiKwik aims to significantly ramp up Soundbox and EDC deployments to meet its goal of 10x growth in the 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. Unlike consumer payments that largely operate on zero-MDR rails, offline acquiring offers stronger MDR opportunity, subscription and device rental economics, while also facing relatively lower competitive intensity. This business creates long-term monetization opportunities through merchant engagement and utilizing transaction data to enable merchant credit distribution.

Strengthening Infrastructure

The PA-P license means that the company has the right foundation in place for consistent, long-term business compounding. It strengthens the company’s ability to build compliant, secure, and scalable payment acceptance infrastructure for offline commerce in partnership with banks. The group had also received the Payment Aggregator – Online (PA-O) license through its subsidiary Zaakpay approximately a year ago, strengthening its omnichannel merchant payments capabilities across both online and offline commerce.

Commenting on the development, 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.”

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of One Mobikwik Systems Limited

One Mobikwik Systems Limited belongs to the Technology › Software – Infrastructure sector. Here’s a quick read on where the business and the stock stand today.

One trades in the lower quarter of its 52-week range. Thin margins at 5.4% leave limited room for error — any demand softness or cost spike hits the bottom line hard. No meaningful dividend — total return is entirely dependent on capital appreciation. Buyers show up with 1.8x the volume of sellers. Moreover, they dominated on 16 of recent sessions versus 14 for sellers — a healthy accumulation pattern. Revenue grows at 27.5% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of One Mobikwik Systems Limited.