MobiKwik Targets Rs 500 Crore Revenue from Payment Gateway Business

Digital payments major MobiKwik said it aims to facilitate $20 billion worth of transactions through its payments gateway business in the next 12-18 months, a vertical that has been profitable for the company since April this year.

The company, which competes with the likes of BillDesk and PayU in this space, is also confident of registering Rs 500 crore in revenue from its payments gateway (PG) business (operated as a MobiKwik subsidiary - Zaakpay) over the next 12 months.

After the Government of India's landmark decision of demonetization, digital payment sector in India is showing exponential growth. This growth path is likely to continue and players like Paytm, MobiKwik, PayU and few others have taken lead in this business.