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Business Standard
03-07-2025
- Business
- Business Standard
MobiKwik's subsidiary receives Sebi approval to act as stock broker
MobiKwik Securities Broking (MSBPL), a wholly-owned subsidiary of fintech firm MobiKwik, on Thursday said the company received regulatory approval from the Securities and Exchange Board of India (SEBI) to act as a stock broker and clearing member. The firm said SEBI issued the certification of registration to the firm on 1 July. This now allows MSBPL to conduct activities such as buying, selling, dealing, clearing and settlement of equity trades. 'This licence strategically positions MobiKwik to accelerate growth in its wealth distribution vertical and broaden its offerings throughout the capital markets ecosystem, reinforcing its transformation into a comprehensive fintech platform,' the company said in a release. The Ministry of Corporate Affairs had approved the incorporation of the securities broking arm of the firm in March. The company had said that it plans to become a member of various stock and commodity exchanges in the country and abroad. "The stock broking licence marks a significant milestone for us as we enter the Indian equity markets... With this, we move a step closer to our goal of building a full-stack fintech platform that eases the adoption of digital financial services for the untapped populace of Bharat,' said Bipin Preet Singh, co-founder, managing director (MD) and chief executive officer (CEO), MobiKwik. Earlier in April, Zaak ePayment Services Private Limited (Zaakpay) received a Certificate of Authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
Time of India
02-05-2025
- Business
- Time of India
One MobiKwik shares in focus after subsidiary gets RBI nod to operate as an online payment aggregator
Live Events One Mobikwik share price performance (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The shares of One MobiKwik Systems are likely to be in focus on Friday after its wholly owned subsidiary, Zaak ePayment Services , secured final regulatory approval from the Reserve Bank of India ( RBI ) to operate as an Online Payment Aggregator 'Zaak ePayment Services Private Limited (Zaakpay), a wholly owned subsidiary of One MobiKwik Systems Limited (MobiKwik), has received the Certificate of Authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator (PA/PG),' the company said in an exchange RBI's Certificate of Authorisation grants Zaakpay the ability to offer seamless payment acceptance solutions for businesses across various modes, including Credit and Debit Cards, Net Banking, UPI, Wallets, Pay Later, and EMIs. This positions Mobikwik to deepen its footprint in the fast-growing B2B digital payments a B2B payments arm of Mobikwik, serves enterprise clients in sectors such as transit, e-commerce, digital lending, healthcare, and bill payments. The company has recently focused on revamping its gateway business and launching new 2024, it partnered with Meta's WhatsApp for Business to launch Conversational Commerce for the transit and healthcare sectors. It also introduced affordability options like card EMIs at e-commerce checkouts and enabled instant daily settlements for enterprise per the BSE Analytics data, One Mobikwik Systems' shares have seen a Year-To-Date (YTD) decline of 58.23%, while the 3-month change stands at -39.37%. Over the past 1 month, the stock has dropped by 17.14%.The shares of One Mobikwik closed 3.14% lower at Rs 252.60 on the BSE on Wednesday.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
