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MobiKwik Turns Profitable in Q4 as UPI Margins Rise and India Bans Uncertified CCTV Imports
Business
Published on 13 May 2026
UPI volume soared, yet payments margins improved fast
MobiKwik delivered a profitable Q4, posting ₹4.4 crore profit despite revenue contraction. Better payments margins—driven by lower gateway costs and higher-margin merchant activity—helped offset the drag from surging zero-MDR UPI volume. The company is also reshaping its mix with ZIP EMI lending and expanding merchant QR and POS investments. Separately, India’s CCTV shake-up is pushing AI camera and chip startups to fill the China gap.
- MobiKwik profits in Q4 as margins improve in payments
- Zero MDR UPI rose, but gateway costs and merchant activity offset it
- ZIP EMI lending shifts toward repeat customers and better credit quality
- India restricts uncertified internet CCTV, accelerating domestic AI surveillance efforts
Read the full story at Inc42
This summarization was done by Beige for a story published on 
Inc42