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THEBUSINESSBYTES BUREAU
GURUGRAM, NOVEMBER 18, 2025
In a breakthrough moment for India’s digital financial ecosystem, MobiKwik, the country’s leading digital wallet and UPI platform, has launched instant Forex payments on its mobile app through a strategic partnership with NPCI Bharat BillPay Limited (NBBL). With this pioneering move, MobiKwik becomes one of the first Indian fintech companies to bring fully digital foreign exchange services directly to mobile users, further solidifying its reputation as an innovator in secure and home-grown financial technology that delivers unprecedented speed, transparency and convenience.
The milestone was marked by the first live transaction of MobiKwik’s intuitive Forex product in the august presence of T. Rabi Sankar, Deputy Governor of the Reserve Bank of India, during the Global Fintech Festival held in Mumbai on October 7, 2025. The launch underscores MobiKwik’s strong alignment with the Government of India and the RBI’s vision of building a fully digital, transparent and inclusive financial ecosystem that meets the evolving needs of citizens.
The newly introduced Forex category on Bharat Connect is designed to democratize access to foreign exchange by offering a simplified, digital-first alternative to traditional channels. Users can now top up forex cards instantly through net banking or UPI with same-day fulfilment, making foreign exchange transactions seamless for students paying international tuition fees, families travelling abroad and small businesses sending funds overseas. Powered by NBBL in collaboration with the Clearing Corporation of India Ltd. (CCIL), the service guarantees secure, regulated and compliant operations under RBI guidelines.
MobiKwik’s Forex platform delivers a host of user-friendly features, including a completely digital booking and remittance experience, competitive USD exchange rates, same-day (T+0) fulfilment through preferred bank branches or digital remittance options, and a safe, compliant framework that brings foreign exchange to the fingertips of millions. Currently supporting USD transactions for individual users, the platform will soon expand to offer additional currencies in upcoming phases.
Speaking on the launch, Bipin Preet Singh, Co-founder, MD & CEO of MobiKwik, said, “At MobiKwik, our mission is to simplify access to financial services for every Indian. With Forex payments, we are proud to be among the first fintech companies to introduce a regulated, digital-first foreign exchange service in the country. Users will now be able to access competitive forex rates, top up forex cards instantly using net banking or UPI, and remit money abroad with same-day fulfilment—all from the convenience of their mobile devices. This is a significant leap forward in making foreign exchange as seamless as digital payments.”
Echoing this sentiment, Noopur Chaturvedi, MD & CEO of NPCI Bharat BillPay Limited, said, “We are delighted to partner with MobiKwik for the Forex category launch on Bharat Connect. This innovation is set to transform how individuals purchase foreign exchange currencies, providing a transparent and seamless experience for users. Envisioned by RBI and in partnership with CCIL, this initiative reaffirms our commitment to making financial services easy and accessible to all Indians.”
By simplifying access to foreign exchange and delivering technology-driven solutions that meet everyday financial needs, MobiKwik continues to empower millions of Indians with the ability to transact globally with the same confidence and ease as domestic digital payments.
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