One of the most valued digital payment startups MobiKwik on Sunday announced that 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 is to register INR 500 cr revenue from its payment gateway business which is to be operated as MobiKwik subsidiary-Zaakpay over next 12 months.

MobiKwik co-founder Upasana Taku exclaims, "We are already among the top three payment gateways in the country and we have seen the total payment volume (TPV) and gross revenues triple in last 12 months. This is because we have the best tech stack for payments in mobile apps clocking 94 per cent success rate."

Adding on to this she stated, "We have now set a target of $20 billion in annual payment volume for its PG business to hit the number 2 position in PG market share in India. We broke even on our PG business in April 2019, and reported a profit of Rs 70 lakh in the month of June 2019."

“MobiKwik customers include the likes of Uber, IRCTC, Dream11, Bajaj Finance, Zomato, Blue Dart and Maruti Suzuki among others. All its enterprise customers rely on the PCIDSS-certified MobiKwik PG Vault to securely manage saved cards of its users for faster repeat checkouts”, she concluded.