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The Economic Times

Shivendra Kumar

MobiKwik shares surge 8% after the company gets RBI nod for payment aggregator license

Mobikwik RBI NSE fintech India

Shares of One MobiKwik Systems surged nearly 8% to hit its day's high of Rs 205.70 on the NSE on Tuesday after the company announced that it has received an in-principle approval for its payment aggregator - Physical (PA-P) license from the Reserve Bank of India (RBI), enabling the company to deepen its offline merchant payments business across India.

The company, in its filing to the exchanges, said the PA-P license will give the company the right foundation for consistent, long-term business compounding, strengthening its ability to build a compliant, secure and scalable payment acceptance infrastructure for offline commerce in partnership with Banks.

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