MobiKwik's Thin Margins and UPI Pressure MobiKwik, one of India's leading digital payments companies, has been struggling financially amidst a rapidly changing market landscape.
The company's woes are largely attributed to the growing dominance of Unified Payments Interface (UPI) and increasing competition in the sector.
The Rise and Fall of UPI Payments In 2016, the National Payments Corporation of India introduced UPI, a real time payments system that enables users to transfer funds directly from their bank accounts without needing payment credentials.