Aim to break into top 10 apps used for UPI payments, says MobiKwik co-founder

The corporate posted a internet revenue in Q3 after a number of quarters of internet loss. Would you stay worthwhile from right here on?

(*10*)Completely. In case you evaluate our earlier information, until Q2FY25 we have been EBITDA worthwhile and rising properly. We took successful for a couple of quarters due to disruption from a client credit score cycle in unsecured lending. Even in Q2FY26, our EBITDA was unfavourable ₹6 crore solely, and this quarter we now have posted 5 per cent EBITDA margin and 1.5 per cent PAT margin. Our focus from hereon is on rising enterprise. These revenue numbers have been achieved due to working leverage and as we scale up, we count on to proceed being worthwhile. After all, each quarter we could not put up 5 per cent revenue margin, some quarters it might rise or fall, relying on enterprise motion.

What’s the steerage on gross merchandise worth (GMV) development?

(*10*)We’re a big participant from a client funds perspective. Shopper funds has three classes — UPI, pockets and invoice funds. We have been the market chief in pockets area for the final two years, with 18-20 per cent market share. At an trade degree, pockets market has additionally grown 44 per cent from December 2024 to December 2025, in accordance to the RBI’s statistics. In invoice funds, we’re ranked seventh, as on December; when it comes to customers utilizing our app to pay payments, we have been quantity sixth in November. So, we intend to break into top 5 on this area as properly.

(*10*)UPI is in fact the biggest fee technique in India. Now we have been among the many top 5 fastest-growing apps each quarter for the final three quarters, and our rank has improved to  from the sixteenth to the twelfth spot when it comes to client transactions on our app utilizing UPI. We intend to break into the top 10 UPI apps. We’re specializing in UPI development as we’re ready to cross promote to customers, whether or not it’s pockets, invoice funds or monetary companies. General, funds GMV has been rising for 12 quarters in a row and we intend to hold hitting new peak every quarter.

Ought to MDR be charged on person-to-merchant transactions on bigger retailers?

(*10*)This can be very necessary. I do know that UPI is appeared as a service for public good, which is nice, however there has to be some place at which cash could be made. For instance, we actually have hundreds of retailers — on-line and offline — whose month-to-month throughput is greater than ₹1 crore. In case your month-to-month gross sales is greater than ₹1 crore and you’re paying a charge on all different transactions like bank card, debit card, and internet banking, then why do you have to not pay for UPI?

(*10*)As a result of debit card charge can also be coming from the identical financial savings account. Massive retailers can afford to pay for UPI transactions and they need to be paying. 5 to 10 years in the past, UPI transactions’ share of their every day total transactions was a lot decrease. So, they have been paying for fee processing for different transactions.

(*10*)Presently, massive retailers are paying zero. Cost firms like us and banks are paying for it. There’s a price to sustaining that service. Cloud price itself is excessive. Further price of product and tech growth for managing the size of funds can also be extraordinarily excessive. So, working these transaction companies for zero isn’t sustainable. You may take into account imposing MDR on retailers with month-to-month income of above ₹40 lakh to even ₹1 crore. Or for transaction worth of ₹2,000 or ₹5,000 or extra. You may nonetheless hold decrease worth transactions for free.

Your steerage on disbursement development?

(*10*)We don’t have a selected steerage on development charge, however you might have a look at the expansion numbers over the previous couple of quarters. In Q3FY25, we had accomplished ₹400 crore of non-public mortgage and ₹250-₹300 crore of purchase now pay later loans (BNPL). Now, BNPL as a product has been shut down by lenders and fintech gamers. So in Q3FY26, BNPL doesn’t exist however we now have accomplished ₹900 crore of non-public mortgage disbursements. We must always have the opportunity to develop in double digit on an annual foundation. By way of lenders, we now have 4 massive NBFCs and 6 different smaller lenders for extending private loans and a few smaller secured merchandise.