COMPANY NAME | ONE MOBIKWIK SYSTEMS PVT LTD |
NATURE OF BUSINESS | MOBILE BANKING |
ISIN NO. | INE0HLU01010 |
FACE VALUE | Rs.10/- |
PROMOTERS | Chandan Joshi |
COMPANY WEBSITE | www.mobikwik.com |

Latest News:
Predictions 2022: BNPL to break glass ceiling for under-credited millions, says Upasana Taku
Buy Now Pay Later (BNPL) as a payment mechanism has transformed the lending industry globally and proven to be very successful in developed nations such as the U.S., Sweden, and Australia where it has grown into a multi-billion-dollar industry.
However, when we talk about BNPL in the Indian market, there is a lot of difference in terms of customer base and usage. Pegged to be the fastest growing economy in the world by the IMF, India’s global growth aspirations are significantly stunted by the large credit gap for a vast majority of its population, with only about 100 million people having access to formal credit.
The credit penetration rate appears even more dismal given that over 250 million Indians are digitally savvy or transact online, and are yet denied formal credit. The paucity of credit information on users and the high cost for physically onboarding a large number of users have dissuaded financial institutions from trying to bridge this ever-widening gap.
BNPL’s future growth
One of the important variables that will push BNPL demand even higher in 2022 or beyond is a shift in consumer behaviour from being savings-focused to consumption-focused. Further it is estimated that India’s BNPL market will rocket to $45-50 billion by 2026 from the current value of $3-3.5 billion.
About Company
We are the largest Buy Now Pay Later (BNPL) fintech and one of the largest mobile wallets in India. Digitally paying users have been rapidly growing in India in the last decade, but the credit card penetration in the country is still only 3.5%. We are focused on addressing the unmet credit needs of the fast-growing digitally paying users by combining the convenience of everyday mobile payments with the benefits of BNPL.
Founded in 2009 by Bipin Preet Singh and Upasana Taku, we commenced operations as a mobile wallet to make digital payments convenient for our users. Our use cases have since expanded to include bill payments, e-commerce shopping, food delivery, payments at petrol pumps, large retail chains, pharmacies, Kirana stores, etc. Our platform also enables peer-to-peer payments via Unified Payments Interface (“UPI”), MobiKwik Wallet as well as MobiKwik Wallet to bank payments. Over the years we have amassed over 108 million Registered Users and more than 3.45 million e-commerce, physical retail, and biller partners.
In order to further enhance our value proposition to our online merchants, we introduced our payment gateway subsidiary Zaakpay in 2012. Zaakpay enables online websites and mobile apps to collect payments from their users using multiple payment options, including debit cards, credit cards, mobile wallets, UPI, and net banking.
In May 2019, we launched MobiKwik Zip, our flagship BNPL product, with a focus on the Indian middle-class population to enable them to make payments for daily life use cases. MobiKwik Zip is focused on providing this unserved Indian population their first experience of credit.
We are a technology-first company leveraging big data analytics and deep data science (including machine learning) to continuously delight users and merchants on our platform. Our mission is to build a world-class payments and credit product for Bharat!