One Mobikwik Systems Limited Expands FX Retail App Offering to Six Foreign Currencies
One MobiKwik Systems Ltd. has expanded its digital foreign exchange offering, taking its FX Retail service from one currency to six currencies as the fintech company looks to capture a broader share of India’s growing overseas travel, education and international payment requirements.
The company announced the expansion on September 10, 2026, at the Global Fintech Fest 2026 in Mumbai.
MobiKwik has added AED, CAD, GBP, EUR and CHF to its existing US Dollar (USD) offering.
MobiKwik Adds Five New Currencies
The expanded FX Retail platform now supports:
- USD
- AED
- CAD
- GBP
- EUR
- CHF
The company said customers can digitally book foreign currency, top up Forex cards and remit funds overseas through the service.
Currency notes can be collected through branches, while remittances can be processed through bank-redirection and branch channels.
Partnership With NPCI Bharat BillPay
MobiKwik said the expanded service makes it the only private player offering a multi-currency FX Retail solution in partnership with NPCI Bharat BillPay Limited (NBBL).
The service is powered by NBBL in collaboration with the Clearing Corporation of India Ltd. (CCIL) and is available through the Bharat Connect ecosystem.
The company initially launched its digital foreign exchange offering at Global Fintech Fest 2025, beginning with USD transactions.
Forex Transactions Show Early Growth
The announcement also provides an indication of the growth of the Forex category within the Bharat Connect ecosystem.
According to MobiKwik, NBBL processed Forex transactions worth ₹111.91 million during the first four months of FY2026–27.
These transactions are processed in partnership with provider banks and participating payment platforms.
However, the figure represents transactions processed through the broader NBBL ecosystem and should not be treated as MobiKwik’s own revenue or transaction value.
Live Bank-Linked Pricing
MobiKwik said its FX Retail offering provides live bank-linked pricing, designed to improve transparency and convenience for customers.
The platform also offers same-day fulfilment, subject to regulatory requirements and applicable service conditions.
The service targets several use cases, including:
- Overseas travel
- Foreign education
- International remittances
- Forex card requirements
- Other eligible foreign exchange needs
Transaction Limits
The expanded service is currently available to resident individuals, subject to PAN and primary-account-holder validation.
Customers can transact up to:
- USD 3,000 equivalent per transaction for currency notes
- USD 10,000 equivalent per transaction for card and remittance services
Equivalent limits apply across the supported currencies.
Why This Matters for MobiKwik Investors
The announcement is strategically relevant because MobiKwik is expanding beyond its traditional payments business into a wider range of digital financial services.
Adding five currencies to the existing USD offering could increase the addressable customer base for its forex platform, particularly among Indians travelling or studying abroad.
The partnership with NBBL also gives MobiKwik access to the Bharat Connect ecosystem, potentially strengthening its position in digital financial services.
However, the company has not disclosed the expected revenue, margins, or profitability contribution from the expanded FX Retail business.
Therefore, the development should currently be viewed as a business expansion and product-growth catalyst, rather than an immediate earnings trigger.
MobiKwik’s Growing Financial Services Platform
MobiKwik said it has 193 million registered users and 5.02 million merchants.
Its product portfolio includes:
- MobiKwik Wallet
- UPI
- Pocket UPI
- Zaakpay payment gateway
- ZIP EMI
- Merchant Cash Advance
- Fixed Deposits
- Mutual Funds
- Digital Gold
- Lens.AI
The company said it held a 19% market share of PPI wallet gross transaction value (GTV) as of June 2026.
The expansion of FX Retail adds another financial-services use case to this ecosystem.
Investor Takeaway
MobiKwik’s move from a single-currency forex offering to a six-currency platform is a meaningful expansion of its digital financial-services portfolio.
The addition of AED, CAD, GBP, EUR and CHF broadens the service for international travel, education and remittance requirements, while the NBBL partnership provides an important ecosystem connection.
The ₹111.91 million in Forex transactions processed by NBBL during the first four months of FY2026–27 indicates that the underlying category is gaining traction, although investors should not equate this figure with MobiKwik’s own business or revenue.
Going forward, the key numbers to watch will be MobiKwik’s forex transaction volumes, customer adoption, revenue contribution, margins and repeat usage.
For now, the announcement is best viewed as a strategic fintech expansion with potential long-term revenue benefits, rather than a near-term financial-results catalyst.
Source
One MobiKwik Systems Limited press release dated September 10, 2026.
Disclaimer
This article is for informational purposes only and should not be considered investment advice. Investors should independently review MobiKwik’s financial statements, exchange filings, and other disclosures before making investment decisions. Product launches and business expansions do not necessarily translate into immediate revenue or profit growth.