MobiKwik aims to clock Rs 500 cr revenue from payment gateway biz

Digital payments major MobiKwik on Sunday said it aims to facilitate $ 20 billion worth of transactions through its payments gateway business in the next 12-18 months, a vertical that has been profitable for the company since April this year.

The company, which competes with the likes of BillDesk and PayU in this space, is also confident of registering Rs 500 crore in revenue from its payments gateway (PG) business (operated as a MobiKwik subsidiary – Zaakpay) over the next 12 months. “We are already among the top three payment gateways in the country and we have seen the total payment volume (TPV) and gross revenues triple in last 12 months… This is because we have the best tech stack for payments in mobile apps clocking 94 per cent success rate,” MobiKwik co-founder Upasana Taku told PTI.