Latest news with #Mobikwik
Business Insider
6 days ago
- Business
- Business Insider
XXKK Exchange Expands Global Fiat Withdrawal Network: Launches Localized Services in India
This upgrade integrates UPI, IMPS, local wallets, and bank card channels, providing Indian users with fast deposits, instant withdrawals, and multi-fiat-to-crypto conversion services. XXKK Exchange, a leading global cryptocurrency trading platform, today announced the launch of its localized fiat deposit and withdrawal services in India. This upgrade fully integrates UPI, IMPS, Paytm Wallet, PhonePe Wallet, Mobikwik, RuPay cards, Visa/MasterCard, and NEFT bank transfers, aiming to provide Indian users with a safer, faster, and more compliant crypto trading experience while further expanding its influence in blockchain and digital finance. Comprehensive Integration of Indian Payment Channels with Instant Processing This localization upgrade focuses on enhancing the deposit experience for Indian users, offering multiple convenient channels covering instant payment systems, bank transfers, bank cards, and local e-wallets: Instant Payment Systems: Supports UPI (Unified Payments Interface) and IMPS (Immediate Payment Service) for quick, high-frequency deposits. Bank Transfers: Enables NEFT (National Electronic Funds Transfer) for larger deposits, meeting the needs of high-volume traders. Bank Card Payments: Supports RuPay, Visa, and MasterCard for seamless card-based deposits. Local E-Wallets: Integrates Paytm Wallet, PhonePe Wallet, and Mobikwik to accommodate diverse payment preferences. Users can choose from these flexible deposit methods, whether for small, fast deposits or larger transfers, and instantly convert INR into USDT. For withdrawals, XXKK Exchange supports UPI and bank card channels, ensuring instant fund transfers and enabling fast fiat-to-crypto conversions. Emmalyn, XXKK's Global Head of Markets, stated: 'By covering UPI, IMPS, NEFT, bank cards, and local e-wallets, XXKK offers Indian users an unprecedented range of deposit options with true localization. Paired with instant withdrawals via UPI and bank cards, we've significantly lowered the barriers to crypto trading and accelerated digital asset adoption in India.' Multi-Fiat Support for Global Markets Beyond INR, XXKK Exchange supports crypto trading with multiple fiat currencies, including PHP (Philippine Peso), CNY (Chinese Yuan), USD (US Dollar), EUR (Euro), HKD (Hong Kong Dollar), THB (Thai Baht), and TWD (New Taiwan Dollar), offering a flexible cross-border crypto trading experience for global users. Global Reach with Local Focus The India localization marks XXKK Exchange's latest milestone following localized fiat integrations in the United States, Southeast Asia, the Middle East, and Europe. Backed by a global operational network, XXKK is building a crypto ecosystem that balances global scalability with local market needs. Currently, XXKK Exchange supports 24/7 on-chain withdrawals for multiple cryptocurrencies, including USDT, BTC, ETH, and TRX, with no minimum withdrawal limits for selected assets, giving users enhanced flexibility and security in managing their crypto and fiat assets. Security and Compliance First XXKK Exchange employs institutional-grade security mechanisms such as two-factor authentication (2FA), address whitelisting, real-time risk monitoring, and manual reviews for sensitive actions, ensuring comprehensive fund protection. The platform is also advancing its global compliance strategy, having obtained key international regulatory licenses: U.S. MSB License (No.: 31000222694535) Canada MSB License (No.: M22420435) St. Vincent FSA License (No.: 3393) 'These licenses reinforce XXKK's compliance foundation, establish trust mechanisms for crypto users, and provide a secure infrastructure for the sustainable development of digital finance,' added Emmalyn. Looking Ahead The India localization upgrade represents another step forward in XXKK Exchange's mission to bridge fiat and crypto globally. Going forward, the platform will continue to expand regional payment integrations and leverage blockchain innovation to advance the global crypto trading ecosystem further. XXKK Exchange is a leading multi-asset cryptocurrency trading platform founded by an international team with deep expertise in finance and blockchain. The platform is committed to bridging traditional finance and the Web3 ecosystem through innovative financial products and institutional-grade security, offering users low-cost, efficient, and transparent crypto trading. Users can join XXKK Exchange today to seize market opportunities and experience fast, secure, and low-cost crypto trading.
Time of India
01-08-2025
- Business
- Time of India
Mobikwik Q1 loss widens six-fold to Rs 42 crore, revenue falls 21%
Academy Empower your mind, elevate your skills Fintech startup One Mobikwik Systems , which operates payments and financial services company Mobikwik , remained in the red as its net loss widened over six-fold to Rs 41.9 crore for the June quarter, from Rs 6.6 crore in the same period last Peak XV-backed company also reported a 20.7% year-on-year decline in operating revenue to Rs 271.3 performance was impacted by a sharp slowdown in its financial services segment, with revenue plunging 65% year-on-year, from Rs 170.7 crore in Q1 FY25 to Rs 58.3 crore in Q1 FY26.A sharp rise in financial guarantee expenses also contributed to the widening of the net loss, with these costs surging nearly ten-fold to Rs 21.3 crore in Q1 FY26 from Rs 2.5 crore a year macroeconomic headwinds and a broader slowdown in unsecured lending, the company discontinued its smaller-ticket Zip loans, a high-margin buy-now-pay-later product, earlier this year. Mobikwik said it is now focused on scaling the longer-tenure, larger-ticket Zip EMI product under both the default loss guarantee (DLG) and risk-free distribution models. Disbursals through Zip EMI touched Rs 693.1 crore during the a letter to shareholders, the company also cited changes in DLG-related accounting, which required front-loading of costs and recognition of lower revenue in initial quarters after loan disbursals, further impacting margins.'We are concentrating on the longer tenure and larger ticket size ZIP EMI product under both the DLG model and the risk-free distribution. We have discontinued the smaller-ticket ZIP product due to macroeconomic challenges and a slowdown in that segment,' the company said in the letter. 'However, we are seeing this trend normalise and believe that Ǫ4 FY25 marked the bottoming-out phase. We expect operating performance to return to previous levels, that is ~40% gross margin in lending by H2 FY26.'Mobikwik's total expenses declined 9% year-on-year to Rs 312.8 crore in the quarter, largely due to a significant drop in lending-related costs. Lending operational expenses fell to Rs 29.1 crore in Q1 FY26 from Rs 92.3 crore a year earlier. However, payment gateway and employee benefit costs rose 12% and 7%, respectively, on a year-on-year stock has declined over 45% from its listing price of Rs 440 in December 2024. On Friday, it was trading at Rs 241.4 on the BSE at 10:14 AM, with a market capitalisation of Rs 1,886.9 the full financial year ended March 2025, the Gurugram-based company had reported a net loss of Rs 122 crore, against a profit of Rs 9.3 crore in lending revenue took a hit, Mobikwik's payments business showed strong momentum. Gross merchandise value (GMV) from payments rose to Rs 38,388 crore in Q1 FY26 from Rs 25,080 crore a year earlier, supported by continued user growth and merchant expansion. As of June 2025, the platform had 180.2 million registered users and 4.6 million merchants.
Time of India
30-06-2025
- Business
- Time of India
Mobikwik elevates Saurabh Dwivedi to CTO, Dhruv Wadhera to SVP
Academy Empower your mind, elevate your skills Fintech firm One Mobikwik Systems announced two key senior-level promotions on Monday. Saurabh Dwivedi has been appointed chief technology officer (CTO), while Dhruv Wadhera has been promoted to senior vice president (SVP) of offline payments, according to a recent exchange his new role, Dwivedi will lead engineering across four key areas: payments, financial services, core platform, and infrastructure and information security. He joined Mobikwik in August 2023 as SVP of engineering for the payments division. Bringing over 20 years of experience, he has previously served as VP of engineering at MakeMyTrip."I am honoured to take on this expanded role and excited to shape our AI-powered technology vision,' said Dwivedi. 'My focus will be on building a unified yet flexible infrastructure that serves diverse businesses at different stages of maturity, while maintaining reliability and innovation for our users.'Wadhera, with 20 years of experience under his belt, has been heading Mobikwik's offline payments business since June 2023, driving its expansion across the country. Before joining Mobikwik, he worked as VP and sales director at Zomato 'Both Saurabh and Dhruv have demonstrated the acumen to serve our users with excellence, build with foresight and lead with integrity,' said Bipin Preet Singh, cofounder, MD and CEO of in 2009 by Singh and Upasana Taku, Mobikwik currently serves more than 176.4 million registered users and over 4.6 million merchants across the March quarter, the company posted a consolidated net loss of Rs 55 crore, compared to Rs 52.3 crore in the December quarter. Operating revenue stood at Rs 265 crore, almost flat against Rs 268 crore in the previous quarter.
Mint
26-06-2025
- Business
- Mint
One Mobikwik Systems share price rallies 15% on large block deal. Do you own?
One Mobikwik Systems share price surged as much as 14.96 per cent on the NSE in Thursday's trading session after a block deal took place on the counter on Thursday, June 26. According to media reports, 8.98 per cent equity—valued at ₹ 168 crore—of One Mobikwik Systems changed hands today. One MobiKwik Systems share opened initially in the red at ₹ 230.70 apiece on June 26, as compared to the previous close of ₹ 245.55. However, the stock climbed more than 14 per cent, touching an intraday high of ₹ 282.30. While the final details of the buyers and the sellers could not be determined immediately, and will be available once the exchanges release the bulk and block deal data for the day, media reports suggested a stake sale by Net1 Applied Technologies Netherlands BV. Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa's Net1 UEPS Technologies, was planning to sell approximately an 8 per cent stake in the company, as per reports. The block deal was likely to be offered at a discount of up to 8.4 per cent from the stock's previous closing price, suggesting an effort to trim its investment in the firm. As per Moneycontrol, Net 1 Applied Technologies invested $40 million (approximately ₹ 268 crore) in Mobikwik in 2016 as part of a strategic collaboration that included integrating its virtual card technology with the Indian digital payments platform. Mobikwik had a strong stock market debut in December 2024, listing at a 58% premium over its IPO price of ₹ 279. However, the stock has since declined by more than 60% from its post-listing high of ₹ 698. The mandatory six-month lock-in period for pre-IPO investors expired on June 18. MobiKwik's net loss expanded significantly in the March quarter, reaching ₹ 56 crore, compared to a loss of just ₹ 67 lakh in the same period last year. The company's revenue saw a modest year-on-year increase of 2.6%, while its Payments Gross Merchandise Value (GMV) surged 2.3 times from the corresponding quarter a year ago. Despite the growth in GMV, MobiKwik reported an EBITDA loss of ₹ 45.8 crore, primarily due to reduced contribution margins.
Mint
26-06-2025
- Business
- Mint
One Mobikwik Systems share price rallies 10% on large block deal. Do you own?
One Mobikwik Systems share price surged as much as 10.47 per cent to ₹ 271.25 on NSE in Thursday's trading session after a block deal worth 8.98 per cent equity—valued at ₹ 168 crore—took place on Thursday, June 26. One MobiKwik Systems shares opened initially in red at ₹ 230.70 apiece on June 26, as compared to previous close of ₹ 245.55. However, the stock climbed more than 10 per cent, touching an intraday high to ₹ 281.15 at 11:15 am. According to media reports, Net1 Applied Technologies Netherlands BV, a subsidiary of South Africa's Net1 UEPS Technologies, was planning to sell approximately 8 percent of its stake in the company. The block deal was likely to be offered at a discount of up to 8.4 percent from the stock's previous closing price, suggesting an effort to trim its investment in the firm. As per Moneycontrol report, Net 1 Applied Technologies invested $40 million (approximately ₹ 268 crore) in Mobikwik in 2016 as part of a strategic collaboration that included integrating its virtual card technology with the Indian digital payments platform. Mobikwik had a strong stock market debut in December 2024, listing at a 58% premium over its IPO price of ₹ 279. However, the stock has since declined by more than 60% from its post-listing high of ₹ 698. The mandatory six-month lock-in period for pre-IPO investors expired on June 18. MobiKwik's net loss expanded significantly in the March quarter, reaching ₹ 56 crore, compared to a loss of just ₹ 67 lakh in the same period last year. The company's revenue saw a modest year-on-year increase of 2.6%, while its Payments Gross Merchandise Value (GMV) surged 2.3 times from the corresponding quarter a year ago. Despite the growth in GMV, MobiKwik reported an EBITDA loss of ₹ 45.8 crore, primarily due to reduced contribution margins. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
