MobiKwik Strengthens Leadership for Payment Business Growth

New Delhi, Feb 7 (PTI) Fintech firm MobiKwik on Wednesday announced it is strengthening the leadership team to push growth of its payment business.

According to a company release, Mohit Narain has been elevated to the role of chief operating officer, consumer payments.

Harvinder Singh Chadha has joined Zaak ePayment Services (Zaakpay), a wholly-owned subsidiary of MobiKwik, as Vice President to lead the payment gateway business.

"ONE MOBIKWIK SYSTEMS (MobiKwik), a fintech company, is strengthening its leadership team to drive growth of its payment business," the release said.

Bipin Preet Singh, co-founder and CEO of MobiKwik, said the digital payments landscape in India has gone through a remarkable surge in adoption.

"Recognising the evolving needs of India's businesses and consumers, we have made these strategic appointments to further strengthen our foothold in the payments space... We remain committed to driving innovation, fostering customer-centric solutions, and delivering unparalleled value to our users and partners," Singh said.

In October 2023, Zaakpay received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator/payment gateway.

This in-principle authorisation will enable Zaakpay to onboard new merchants onto its platform for quick and easy processing of online payments.

The company said Narain has been associated with MobiKwik for over five years and was serving as an operational excellence coach. He has been instrumental in driving overall organisational growth by putting processes in place as well as resource and cost optimisation.

"In his new role, he will be responsible for ensuring operational efficiencies at scale across the payments business primarily focusing on UPI, MobiKwik wallet, Offline QR and devices (Soundbox and POS). Prior to MobiKwik, Mohit worked with ACL Mobile Ltd among others," it said.

Chadha joins the company from Cashfree Payments, where he was heading the enterprise business, and brings over 20 years of experience in the banking and fintech sectors.

"At Zaakpay, he will lead business growth for the company's payment gateway business," it said.

Chadha will be responsible for online merchant acquisition -- both small and medium businesses and enterprise business -- banking partnerships, and building teams to ensure scalable and repeatable growth, the company added.