MobiKwik Gets RBI Approval for Offline Payments

One MobiKwik Systems received RBI’s in-principle approval for a Payment Aggregator-Physical licence.

One MobiKwik Systems Limited received in-principle approval from the RBI for a Payment Aggregator-Physical licence. The licence will allow the company to provide payment aggregation services to offline merchants. It will cover QR-based payments, Point-of-Sale infrastructure and merchant settlement solutions. The development is important for digital payments, fintech regulation and India’s formal payment ecosystem.