<p>New Delhi: <a href="https://www.deccanherald.com/tags/mobikwik">MobiKwik </a>has become the largest digital financial services platform in terms of PPI Wallet transactions by value for April and May, the company said on Monday.</p>.<p>Quoting Reserve Bank of India (RBI) data, MobiKwik said it has gained its market share in financial transactions through the Prepaid Payment Instrument (PPI) Wallet during the two months.</p>.<p>The company saw its market share by value grow from 11 per cent in March 2024 to 20 per cent in April and further to 23 per cent in May.</p>.RBI cancels registration certificates of 2 NBFCs for irregular lending practices.<p>According to MobiKwik Co-founder & CFO Upasana Taku, the new product Pocket UPI has played a significant role in expanding its reach and bringing ease of payment to the users.</p>.<p>Pocket UPI offers users a seamless way to make instant payments through their Wallets across the UPI network without linking their bank account, further helping users manage their finances effectively.</p>.<p>Additionally, she said, this growth has come on the back of widespread adoption of its platform in Tier II and Tier III cities. Its user-friendly app and transaction security measures are designed to assist consumers and merchants alike.</p>.<p>"MobiKwik is not in the business of FASTag issuance. MobiKwik commanded a 48 per cent market share for PPI Wallet transactions by value in May 2024, after excluding FASTag-related transaction value," she told <em>PTI</em>.</p>.Life insurers record 23% rise in new premium collection in April-June.<p>It is to be noted that One MobiKwik Systems Ltd filed its preliminary papers in January with markets regulator Sebi to raise up to Rs 700 crore through an initial public offering.</p>.<p>Other major players in the segment include Amazon Pay and Phonepe.</p>
<p>New Delhi: <a href="https://www.deccanherald.com/tags/mobikwik">MobiKwik </a>has become the largest digital financial services platform in terms of PPI Wallet transactions by value for April and May, the company said on Monday.</p>.<p>Quoting Reserve Bank of India (RBI) data, MobiKwik said it has gained its market share in financial transactions through the Prepaid Payment Instrument (PPI) Wallet during the two months.</p>.<p>The company saw its market share by value grow from 11 per cent in March 2024 to 20 per cent in April and further to 23 per cent in May.</p>.RBI cancels registration certificates of 2 NBFCs for irregular lending practices.<p>According to MobiKwik Co-founder & CFO Upasana Taku, the new product Pocket UPI has played a significant role in expanding its reach and bringing ease of payment to the users.</p>.<p>Pocket UPI offers users a seamless way to make instant payments through their Wallets across the UPI network without linking their bank account, further helping users manage their finances effectively.</p>.<p>Additionally, she said, this growth has come on the back of widespread adoption of its platform in Tier II and Tier III cities. Its user-friendly app and transaction security measures are designed to assist consumers and merchants alike.</p>.<p>"MobiKwik is not in the business of FASTag issuance. MobiKwik commanded a 48 per cent market share for PPI Wallet transactions by value in May 2024, after excluding FASTag-related transaction value," she told <em>PTI</em>.</p>.Life insurers record 23% rise in new premium collection in April-June.<p>It is to be noted that One MobiKwik Systems Ltd filed its preliminary papers in January with markets regulator Sebi to raise up to Rs 700 crore through an initial public offering.</p>.<p>Other major players in the segment include Amazon Pay and Phonepe.</p>