Zaakpay, a subsidiary of Gurugram-based fintech firm One MobiKwik Systems, has received regulatory approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This development, dated April 23, 2025, is expected to strengthen Mobikwik’s digital payment infrastructure nationwide. The approval follows MobiKwik’s strategic expansion into NBFC and brokerage services through the establishment of Mobikwik Financial Services Private Limited and Mobikwik Securities Broking Private Limited.
Zaakpay, a key subsidiary of One MobiKwik Systems, a leading fintech firm based in Gurugram, Haryana, has received approval from the Reserve Bank of India (RBI) to operate as a payment aggregator. This green light allows Zaakpay to process online transactions on behalf of merchants across the country, further solidifying Mobikwik’s role in India’s digital payment ecosystem.
MobiKwik, established in 2009, is known for its mobile wallet, BNPL services, and digital lending platform, catering to both individuals and small businesses. The latest regulatory nod marks a significant milestone in the company’s ongoing push to diversify and scale its fintech services.
This move comes shortly after MobiKwik set up Mobikwik Financial Services Private Limited (MFSPL)—a wholly-owned NBFC arm. Registered with the Ministry of Corporate Affairs, MFSPL is geared to offer services like leasing, hire purchase, and financing of assets such as vehicles and machinery.
In March, MobiKwik also launched Mobikwik Securities Broking Private Limited (MSBPL), stepping into the stock brokerage segment. These expansions signal the company’s commitment to building a comprehensive financial services suite under the MobiKwik brand.
With RBI’s authorization, Zaakpay is now positioned to support India’s growing demand for digital payments by offering secure and scalable transaction solutions. Industry watchers see this as a strategic move that aligns with the government’s push toward a cashless economy and financial inclusion.
As MobiKwik expands its service offerings, the RBI’s approval for Zaakpay could catalyze further growth in merchant adoption and transaction volumes across sectors.
