Mobikwik shares climb 4% after emerging among top 3 fastest-growing UPI apps in Q2 FY26

Shares of One Mobikwik Systems Ltd, the parent company of Mobikwik, climbed 3.54 per cent on Thursday to reach a high of Rs 235.55 after the company was ranked among India's top three fastest-growing UPI apps in the second quarter of fiscal year 2026 (Q2 FY26). The stock was last seen trading 2.31 per cent higher at Rs 232.61. Despite this uptick, the stock has suffered a significant decline of 61.56 per cent on a year-to-date (YTD) basis.

Mobikwik announced that it delivered one of the highest growth rates in UPI transactions among leading Third-Party Application Providers (TPAPs), coinciding with a threefold year-on-year surge in overall UPI usage by October 2025. This surge in usage has contributed to strong growth in both transaction volume and value metrics for the company.

"With a steadily expanding user base, UPI continues to be a strategic growth driver for the company and remains central to its approach to engaging high-quality users across payments and credit," Mobikwik stated.

The company emphasised its continued focus on attracting and retaining high-quality UPI users who actively engage with both payment and credit products, which enhances average revenue per user (ARPU) and drives long-term value.

A key factor behind this growth is Mobikwik's 'Pocket UPI,' highlighted as a major growth engine. Pocket UPI allows users to make UPI payments directly from their Mobikwik Wallet by scanning QR codes or paying via mobile number or UPI ID without linking their primary bank account. This feature offers users greater control over digital spending, keeps bank statements uncluttered, and reduces exposure of sensitive banking details. Mobikwik mentioned that Pocket UPI is "a safer, cleaner & more convenient option for everyday payments."

Quarter-on-quarter (QoQ), Mobikwik's UPI transactions grew by 38 per cent, while UPI gross merchandise value (GMV) increased by 28 per cent, indicating rising engagement among both new and existing users.

Commenting on this growth, Upasana Taku, Executive Director, CFO, and Co-Founder at Mobikwik, said, "The NPCI data highlights the strong, broad-based adoption of UPI on our platform across the country. Sustained growth across both volume and value reflects the increasing trust users and merchants place in us. As digital payments become integral to everyday life, our focus remains on reliability, safety, and serving the evolving needs of India. We're proud to partner in India's UPI growth story & contribute to building one of the world's most advanced & trusted payments ecosystems."

As of September 2025, the promoters collectively held a 24.87 per cent stake in One Mobikwik Systems.