Digital financial inclusion has seen a massive increase post-Covid, covering 19,103 pin codes out of a total of 19,253 pin codes in India. This indicated that 99 per cent of India’s pin codes have been covered by MobiKwik.

Digital credit transactions in India increased five times  in FY22 from FY21, according to a comprehensive analysis of 134 million registered MobiKwik users. Digital credit transactions increased by five-fold in FY22.

The merchant gross merchandises value was up 3.2 times in FY22, compared to FY21. Jaipur was one of the fastest growing cities in terms of digital adoption by unorganised merchants, with 5 times growth in FY22. Delhi NCR, Pune and Mumbai were the top-grossing cities for payments made by unorganised merchants.

The number of unorganised merchants accepting payments via Mobikwik had increased four times in 2020 and two times growth in 2021.

MobiKwik has 93 per cent of its users from tier-II and -III cities.

 Upasana Taku, co-founder and COO of MobiKwik said the digital payments and financial services have reached every nook and corner of the country and this digital inclusion can propel the economic growth in coming days. 

The ‘online merchant’ category (online shopping, food, grocery) was the highest-grossing category contributing 80 per cent of GMV pre-Covid, but after easing of Covid restriction this contribution went up to 90 per cent.

Before Covid, the most-spent category for men was travel but after Covid, it changed to credit card bill payments. For women, the most-spent category was travel before Covid-19, which changed to shopping and Buy-now-pay-later payments post-Covid. During festive months, the GMV contributed by women went up by 62 per cent compared to the non-festive period.

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