MobiKwik Strengthens Leadership Team to Fuel Payment Business Growth

Fintech firm MobiKwik announced on Wednesday that it is fortifying its leadership team to propel the growth of its payment business. The company revealed several key appointments aimed at bolstering its position in the payments sector.

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Strategic Appointments

Mohit Narain has been elevated to the role of Chief Operating Officer (COO) for consumer payments. With over five years at MobiKwik, Narain has played a pivotal role in driving organizational growth, implementing efficient processes, and optimizing resources and costs. In his new capacity, he will oversee operational efficiencies across the payments business, focusing on UPI, MobiKwik wallet, Offline QR, and devices like Soundbox and POS.

Harvinder Singh Chadha joins Zaak ePayment Services (Zaakpay), a wholly-owned subsidiary of MobiKwik, as Vice President to lead the payment gateway business. Chadha brings over two decades of experience in the banking and fintech sectors. Prior to joining MobiKwik, he headed the enterprise business at Cashfree Payments. At Zaakpay, he will spearhead business growth for the company's payment gateway, driving merchant acquisition, banking partnerships, and team building for scalable and sustainable growth.

Driving Innovation and Customer-Centric Solutions

Bipin Preet Singh, Co-founder and CEO of MobiKwik, highlighted the remarkable surge in digital payments adoption in India. Recognizing the evolving needs of businesses and consumers, Singh emphasized the significance of these strategic appointments in strengthening MobiKwik's foothold in the payments space. He reiterated the company's commitment to driving innovation, fostering customer-centric solutions, and delivering exceptional value to users and partners.

Zaakpay's In-Principle Authorization

In October 2023, Zaakpay received in-principle authorization from the Reserve Bank of India (RBI) to operate as a payment aggregator/payment gateway. This authorization will enable Zaakpay to onboard new merchants onto its platform, facilitating quick and seamless processing of online payments.

MobiKwik's strategic leadership appointments and Zaakpay's in-principle authorization from the RBI position the company for accelerated growth in the payments sector. With a focus on operational efficiencies, merchant acquisition, and customer-centric solutions, MobiKwik is poised to capitalize on the burgeoning digital payments landscape in India.