MobiKwik Statistics 2026: Rapid Wallet Adoption Now

MobiKwik has evolved into a full-stack fintech platform, blending digital payments, wallet services, and consumer lending into one ecosystem. Its impact shows up clearly in everyday use cases, from QR-based retail payments across small merchants to instant credit lines powering e-commerce checkouts. As digital payments accelerate globally, MobiKwik’s growth reflects how fintech platforms scale by combining payments with financial services. Let’s explore the latest MobiKwik statistics for 2026 to understand its performance, growth drivers, and market position.

Editor’s Choice

• MobiKwik’s registered user base reached 186.6 million in 2026, up from 180 million in 2025.
• The platform supports 4.79 million merchants as of early 2026, reflecting strong merchant adoption.
• Quarterly GMV previously stood at ₹38,388 crore in mid-2025, showing rapid scaling within months.
• MobiKwik achieved net profitability of ₹4 crore in late 2025, reversing a ₹55+ crore loss a year earlier.
• UPI contribution to GMV increased from 32% (FY25) to 41% (FY26), signaling a platform shift toward UPI-led growth.
• The platform continues to scale across payments and financial services with strong year-over-year growth trends.

Recent Developments

• UPI’s share in GMV increased significantly from 30% to ~40% within a year.
• EBITDA improved by 80% QoQ to ₹24.8 crore, driven by cost control.
• Financial services gross profit surged 231% QoQ, highlighting diversification beyond payments.
• Contribution profit rose 24% QoQ, supported by reduced direct costs.
• The company reported a return to profitability in late 2025, after consistent losses in prior periods.
• Gross profit jumped 35.7% YoY to ₹83.3 crore in late 2025.
• Revenue for FY26 showed some volatility due to lending slowdowns.

MobiKwik Stock Surge After Earnings

• MobiKwik shares jumped to ₹229.90, reflecting a strong market reaction to its latest earnings results.
• The stock recorded a sharp gain of ₹31.40, translating into a 15.82% increase in a single trading session.
• Intraday prices ranged from around ₹198 to ₹232, highlighting high volatility and strong upward momentum.
• The stock showed a steady upward trend throughout the morning session, indicating consistent buying interest from investors.
• A notable spike near midday suggests accelerated demand following earnings announcements.
• The double-digit percentage surge (15.82%) signals renewed investor confidence and positive sentiment around MobiKwik’s financial performance.

MobiKwik Transaction Statistics

• Quarterly GMV stood at ₹43,217 crore, showing steady sequential growth.
• GMV reached ₹38,388 crore by mid-2025, marking strong year-on-year expansion.
• Payments GMV grew 53% YoY in early FY26, one of the fastest growth rates in the sector.
• UPI transactions surged 38% QoQ to 138 million+ transactions, boosting overall transaction volume.
• The payments segment recorded multiple consecutive quarters of record GMV growth.
• Wallet + UPI hybrid usage drove multi-channel transaction growth across retail and bill payments.
• Nine-month GMV crossed ₹902 billion (~₹90,200 crore) in FY25, reflecting compounding scale.
• Transaction growth remains driven by increasing merchant acceptance and user engagement.

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Payments GMV Statistics

• Payments GMV reached ₹384 billion (~₹38,400 crore) in Q1 FY26, the highest ever at the time.
• Year-over-year GMV growth stood at 53% in early FY26.
• GMV growth remained strong through 2025, supported by rising digital adoption.
• Payments revenue increased 24% YoY alongside GMV growth, showing monetization improvement.
• Gross margin improved to 28–29% in FY26, up from ~16% the previous year.
• The payments business revenue reached ₹208.9 crore in FY26, growing steadily year over year.
• GMV expansion was driven by merchant payments and UPI adoption growth, especially in Tier 2–3 cities.
• Increasing adoption of QR payments continues to fuel transaction volumes.

UPI Statistics

• UPI’s share in GMV increased from 32% (FY25) to 41% (FY26).
• UPI transactions grew 38% QoQ, reaching over 138 million transactions.
• UPI GMV rose 28% QoQ, reflecting higher transaction value per user.
• UPI contribution expanded from 30% to 40% of the total payment business within a year.
• Increasing UPI adoption reduced reliance on wallet-only transactions, shifting toward an interoperable payments ecosystem.
• UPI growth aligns with broader industry trends where low-cost payments drive user acquisition at scale.

Wallet Market Share Statistics

• The Indian wallet market itself crossed $40 billion in transaction value in 2025, reflecting strong ecosystem growth.
• Wallet usage contributes less than 25% of total GMV in FY26, as UPI gains dominance.
• In FY25, wallet contribution was closer to 30% of total payment volume, indicating a steady decline.
• MobiKwik processed billions in wallet transactions annually, especially in bill payments and recharges.
• The wallet segment in India is projected to grow at a 12–15% CAGR through 2028, despite UPI pressure.
• MobiKwik’s wallet remains widely used for credit-based transactions (ZIP services), differentiating it from pure UPI apps.
• The platform continues to expand wallet utility in offline QR payments, especially among small merchants.

Profitability Statistics

• MobiKwik returned to profitability in late 2025, compared to significant losses the previous year.
• EBITDA improved by 80% QoQ to ₹24.8 crore, signaling operational efficiency gains.
• Contribution margin increased by 24% QoQ, driven by lower payment gateway costs.
• Gross profit rose 35.7% YoY to ₹83.3 crore in late 2025.
• Payments gross margin expanded to ~28–29% in FY26, up from ~16% in FY25.
• Financial services gross profit surged over 200% QoQ, highlighting diversification benefits.
• Operating revenue showed volatility due to a lending slowdown.
• Net margins improved by 17 basis points due to higher UPI-driven volumes.

App Download and Rating Statistics

• Android accounts for over 90% of app installs, consistent with India’s mobile ecosystem.

• MobiKwik app has surpassed 50 million downloads on the Google Play Store.
• The app maintains a rating of 4.2+ stars, reflecting strong user satisfaction.
• Monthly active users (MAUs) exceed 35 million users globally.
• App installs grew 10–15% YoY in 2025, driven by UPI adoption.
• User engagement increased with features like credit, bill pay, and insurance services.
• App retention improved due to integrated fintech services in one interface.
• MobiKwik ranks among the top fintech apps in India by downloads, though behind PhonePe and Paytm.

Lending Statistics

• MobiKwik disburses loans worth ₹5,000+ crore annually through its lending platform.
• Its ZIP (buy now, pay later) product accounts for a major share of short-term credit transactions.
• Lending revenue declined ~21% YoY in early FY26, reflecting cautious credit expansion.
• The company partnered with multiple NBFCs to scale digital credit distribution.
• Average ticket size for ZIP loans ranges between ₹2,000–₹10,000, targeting micro-credit needs.
• Lending contributes high-margin revenue compared to payments, boosting overall profitability.
• The financial services segment saw 231% QoQ gross profit growth, driven largely by lending.
• MobiKwik focuses on risk-controlled lending models, especially after regulatory tightening in India.
• The platform leverages transaction data to enable AI-driven credit scoring, improving approval rates.

IPO Statistics

• MobiKwik filed for IPO multiple times, with a proposed valuation of $700 million–$1 billion.
• The company initially planned to raise ₹1,900 crore (~$230M) via IPO.
• IPO timelines were delayed due to market volatility and regulatory factors.
• The firm secured approvals from SEBI (India’s market regulator) for listing.
• MobiKwik aims to use IPO proceeds for lending expansion and product development.
• The IPO would position it among India’s listed fintech players, alongside Paytm.
• Investor interest remains tied to profitability milestones achieved in FY26.
• Market analysts estimate fintech IPO demand to grow 15–20% annually, benefiting companies like MobiKwik.

Competitive Landscape and Industry Comparison

• PhonePe leads the UPI market share with 45%+ share, followed by Google Pay at ~35%.

• MobiKwik competes with major players like Paytm, PhonePe, and Google Pay in India’s fintech ecosystem.
• MobiKwik’s strength lies in wallet + lending integration, unlike pure UPI apps.
• Paytm maintains a strong position in merchant payments and financial services.
• India’s digital payments market is projected to reach $10 trillion by 2026, creating massive growth opportunities.
• MobiKwik ranks among the top fintech startups by user base, though behind PhonePe and Paytm.
• The company differentiates through BNPL (ZIP) and credit services, targeting underserved users.
• Industry competition has intensified with zero MDR (merchant discount rate) on UPI, impacting monetization.
• Despite competition, MobiKwik continues to grow GMV at 50%+ YoY, outperforming many mid-tier players.

Merchant Statistics

• MobiKwik serves 4.79 million merchants as of 2026.
• Merchant base grew 20%+ YoY, driven by QR adoption.
• Offline merchant payments account for a significant portion of GMV growth.
• The platform supports small and mid-sized businesses across Tier 2–3 cities.
• Merchant payment solutions include UPI QR, wallet acceptance, and credit options.
• Merchant onboarding costs decreased due to digital KYC and automated onboarding systems.
• MobiKwik enables merchants to access working capital loans via its lending ecosystem.
• The company targets expansion into rural and semi-urban markets, where digital payment adoption is rising.
• Merchant retention improved due to bundled services like payments + credit + analytics tools.

Geographic Reach Statistics

• The platform serves users in Tier 2 and Tier 3 cities, which account for over 60% of new user growth.
• Rural and semi-urban markets contributed 30–35% of incremental transactions in FY26.
• MobiKwik’s merchant network spans 4.79 million+ businesses, many located outside metro cities.
• The company supports cross-border use cases like international bill payments and travel-related transactions.
• Digital payments penetration in India reached ~85% of districts, supporting MobiKwik’s expansion.
• Smartphone penetration in India crossed 750 million users in 2025, enabling wider fintech adoption.
• Regional language support on the app has increased engagement across non-English-speaking regions.
• The platform’s QR-based payments are widely used in offline retail stores, transportation, and small vendors.

Customer Demographics Statistics

• MobiKwik’s total user base reached 186.6 million in 2026, up from ~180 million in 2025.
• Around 65% of users are under 35 years old, highlighting strong adoption among younger consumers.
• Male users account for ~60% of the platform, though female participation is steadily increasing.
• Tier 2 and Tier 3 users contribute over 50% of new sign-ups, reflecting deeper market penetration.
• Average transaction frequency per active user increased by 20% YoY in 2025–2026.
• The platform reports high repeat usage in bill payments and recharges, especially among salaried users.
• Students and young professionals form a large segment of ZIP (BNPL) users, with frequent low-ticket transactions.
• Urban users still contribute a majority of high-value transactions, particularly in e-commerce payments.
• Customer retention improved due to multi-service offerings, including payments, lending, and insurance.

Bill Payment Statistics

• MobiKwik processes millions of monthly bill payments, including utilities, telecom, and DTH services.
• Bill payments contribute 20–25% of total transaction volume on the platform.
• Electricity bill payments saw 15–20% YoY growth in FY26, driven by digital adoption.
• Mobile recharge remains one of the most frequent transaction categories, especially in rural markets.
• Average bill payment ticket size ranges between ₹500 and ₹2,500, depending on service type.
• BBPS (Bharat Bill Payment System) integration enables secure and standardized bill payments nationwide.
• Recurring payments and autopay features contributed to higher user retention in FY26.
• Bill payment usage increased significantly during peak seasons like summer and festive periods.

Future Outlook and Growth Projections

• MobiKwik aims to expand its user base beyond 200 million users by 2027.
• Payments GMV is expected to grow at a 40–50% CAGR over the next 2–3 years.
• The lending business is projected to contribute over 30% of total revenue by 2027.
• UPI is expected to account for 50%+ of total GMV, further reducing wallet dependency.
• The company plans to expand its merchant base beyond 6 million in the next two years.
• Integration of AI and data analytics will enhance credit scoring and fraud detection.
• Expansion into insurance and wealth management services is expected to diversify revenue streams.
• IPO listing could unlock new capital for scaling operations and product innovation.

Frequently Asked Questions (FAQs)

Conclusion

MobiKwik’s growth story reflects the broader shift in fintech, from standalone wallets to integrated financial ecosystems. The company’s rising GMV, improving profitability, and expansion into lending highlight a business model that balances scale with monetization. At the same time, strong competition and evolving regulations continue to shape its trajectory. As digital payments deepen across emerging markets, MobiKwik’s ability to combine payments, credit, and merchant services will define its next phase of growth.