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HomeMarket NewsMobiKwik shares in focus after technical glitch leads to unauthorised payouts
MobiKwik said that an isolated internal processing error occurred on September 11 and 12, causing certain failed transactions to be incorrectly marked as successful. This led to unintended payouts to some merchants and users, who exploited the issue to gain undue financial benefit.
By Meghna Sen September 19, 2025, 8:58:41 AM IST (Published)
Shares of One MobiKwik Systems Ltd., the parent of payment solutions provider MobiKwik, will be in focus on Friday, September 19, after the company disclosed a technical issue that resulted in unauthorised payouts.
According to its regulatory filing, an isolated internal processing error occurred on September 11 and 12, causing certain failed transactions to be incorrectly marked as successful. This led to unintended payouts to some merchants and users, who exploited the issue to gain undue financial benefit.
The problem was identified in the early hours of September 12, following which the company took corrective action and resolved it within 45 minutes. The total financial impact has been contained and quantified, MobiKwik said.
The company has filed an FIR with local authorities, leading to multiple arrests, and over 2,000 merchant bank accounts have been frozen. Active recovery efforts are underway, and a portion of the funds has already been retrieved.
MobiKwik clarified that the incident had no impact on UPI or wallet transactions, user balances, or customer data. No legitimate user or merchant suffered financial loss, and no banks or financial institutions were affected.
The company stressed that this was not a cybersecurity breach but a limited internal error that has since been fully addressed.
During the June quarter, the fintech company reported consolidated loss widening to ₹41.9 crore, compared to a loss of ₹6.6 crore in the same period last year.
One MobiKwik Systems's revenue stood at ₹271 crore, a 20.7% decline from ₹342.2 crore in Q1 FY25.
Seen sequentially, losses narrowed from ₹56 crore in Q4 FY25, while revenue saw an uptick of 1.3%.
MobiKwik made a strong start to its journey as a public company, listing at a premium of 58% to its issue price.
MobiKwik is tracked only by one analyst, Dolat Capital Markets, who has a 'Buy' rating on the counter.
Shares of One MobiKwik ended 0.83% higher on Thursday at ₹300.70. The stock has jumped nearly 32% in the last one month.
