One Mobikwik Systems, a prominent player in India’s fintech sector, stands among the leading providers of mobile wallets (MobiKwik Wallet) and Buy Now Pay Later (BNPL) solutions, ranked by gross merchandise value (GMV) in FY 2024. Between FY 2022 and FY 2024, the company demonstrated remarkable growth, with Payment GMV increasing at an annualized rate of 45.88% and MobiKwik ZIP GMV (loan disbursements) skyrocketing at an impressive 112.16% annually.

Functioning as a platform-based business, One Mobikwik Systems facilitates a dynamic two-sided payments network, bridging consumers and merchants. By 30 June 2024, it had amassed 161.03 million registered users and empowered 4.26 million merchants to seamlessly process transactions across online and offline channels. The company’s expanding portfolio—spanning digital credit, investments, and insurance—continues to enhance its value proposition for both new and existing users.

India’s financial literacy surge has fueled an exponential rise in demat accounts, which grew over fivefold from 21 million in FY 2013 to 114 million in FY 2023, reflecting a CAGR of 18%. One Mobikwik Systems primarily engages its users via the MobiKwik app, which boasts a 4.4-star rating on Google Play and a 4.6-star rating on the Apple App Store, underscoring its popularity among consumers.