MobiKwik launches e-Rupee, you can make payment through UPI, daily limit of ₹ 50000

Jyoti — Wed, 29 Jan 2025 12:02:34 +0000

Digital wallet Mobikwik (One Mobikwik Systems Limited) has launched the Central Bank Digital Currency (CBDC) wallet e-Rupi (e₹). For this, Mobikwik has partnered with the Reserve Bank of India (RBI) and Yes Bank.

Mobikwik is the first digital wallet to launch the full version of e-Rupi. The e-Rupi wallet is now available to all Android users of Mobikwik. It enables seamless peer-to-peer (P2P) and peer-to-merchant (P2M) transactions.

You can scan UPI QR

Users using Mobikwik e-wallet can make payments by scanning any UPI QR code. It is fully interoperable on UPI. New Mobikwik users will have to complete video KYC before opening an e₹ wallet. Currently, the daily transaction limit in e-Rupee wallet is Rs 50,000. The transaction limit is Rs 10,000 and the currency denominations are 50 paise, ₹1, ₹2, ₹5, ₹10, ₹20, ₹50. ₹100, ₹200 and ₹500 are available in e-Rupee.

What did the company’s MD say

MobiKwik MD Bipin Preet Singh said- We hope that CBDC will digitize the Indian rupee and further expand the digital economy. Our goal is to adopt e-rupee in India and move towards a less cash economy.

How were the results of the September quarter

One Mobikwik Systems Limited incurred a loss of Rs 3.59 crore in the July-September 2024 quarter. The company had a profit of Rs 6 crore in the September 2023 quarter. The company’s total income increased to Rs 294 crore in the September 2024 quarter. It was Rs 207 crore in July-September 2023. Total expenditure also increased to Rs 287 crore, while it was Rs 196 crore in the same quarter of FY 2023-24.

Share status

Talking about Mobikwik’s stock, it is at Rs 415. On Tuesday, the stock closed 3.92% higher than the previous day. During trading, the stock reached the level of Rs 437.40. Let us tell you that the company was listed in the stock market last year.