MobiKwik Enters Top 3 Fastest-Growing UPI Apps in India
Filing Summary
One MobiKwik Systems Ltd has reported significant growth in its UPI transactions, placing it among India’s top three fastest-growing UPI apps in Q2FY26. The company achieved a threefold year-on-year increase in UPI usage by October 2025. UPI transactions surged by 38% quarter-on-quarter, with a 28% rise in gross merchandise value. The introduction of the Pocket UPI feature has been a key driver of this growth. MobiKwik continues to focus on expanding its user base and enhancing its payment and credit offerings to maintain its competitive position in the digital payments market.
One MobiKwik Systems Ltd has announced its emergence as one of the top three fastest-growing UPI apps in India during Q2FY26. The company reported a threefold year-on-year increase in UPI transactions by October 2025. This growth reflects MobiKwik’s strategic focus on expanding its user base and enhancing its digital payment offerings.
MobiKwik’s UPI transactions increased by 38% quarter-on-quarter, while the gross merchandise value (GMV) rose by 28%. The company attributes this growth to its focus on attracting and retaining high-quality UPI users who engage with both payment and credit products. The introduction of the Pocket UPI feature has been a significant factor in driving MobiKwik’s UPI scale, allowing users to make payments directly from their MobiKwik Wallet without linking their primary bank accounts.
The Pocket UPI feature enables users to conduct transactions by scanning QR codes or using mobile numbers or UPI IDs. This feature provides users with more control over their digital spending and reduces the exposure of sensitive banking details. MobiKwik’s platform enhancements, including optimized payment flows and improved routing logic, have contributed to higher transaction success rates and a more seamless user experience.
According to data from the National Payments Corporation of India (NPCI), MobiKwik has shown strong growth in UPI transactions among the top 20 third-party application providers (TPAPs). The company’s focus on reliability and safety has reinforced its position in the digital payments market. MobiKwik continues to gain traction in high-frequency categories such as retail, groceries, food, dining, and fuel.
MobiKwik’s growth strategy includes expanding its range of financial products, such as credit and savings options, to enhance user engagement and drive long-term value. The company serves over 183.5 million registered users and 4.71 million merchants, offering a variety of payment products, including the MobiKwik Wallet, UPI, Pocket UPI, and Zaakpay payment gateway.
One MobiKwik Systems Ltd is India’s largest digital wallet provider, offering a wide range of payments and financial products to consumers and merchants. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company focuses on expanding its digital payment solutions and financial product offerings to maintain its competitive edge in the market.