One Mobikwik Systems accepted the resignation of Raghu Ram Hiremagalur Venkatesh as independent director with immediate effect on September 18, 2026. The departure follows his citation of pre-occupation with other professional commitments.

The company disclosed the change pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to both the National Stock Exchange of India Limited and BSE Limited.

Resignation Details

Venkatesh tendered his resignation via email dated September 18, 2026. He confirmed that there are no other material reasons for stepping down aside from his increasing professional obligations elsewhere. The company received confirmation from him that no undisclosed factors influenced this decision.

Board Acknowledgement

In his resignation letter, Venkatesh expressed gratitude to the management and fellow board members for their support during his tenure. He also acknowledged the collaboration provided by the company’s support teams, including legal, finance, and compliance departments.

Ankita Sharma, Company Secretary and Compliance Officer of One Mobikwik Systems Limited, signed the disclosure. The company has arranged to file the necessary disclosures with the stock exchanges and the Registrar of Companies in compliance with applicable laws.

The National Payments Corporation of India (NPCI) will introduce a merchant discount rate on Unified Payments Interface (UPI) person-to-merchant transactions exceeding ₹2,000. The fee structure becomes effective on October 15, 2026.

One Mobikwik Systems disclosed the regulatory change in a filing with stock exchanges on September 16, 2026. The move marks a shift in the economics of digital payments, converting previously free transactions into revenue-generating events for payment service providers.

Regulatory Details

The NPCI circular, numbered NPCI/UPI/OC-No.237/2026-27 and dated September 15, 2026, mandates a merchant discount rate of up to 0.4% on UPI P2M transactions above the ₹2,000 threshold. This regulation applies to payments processed through the UPI network.

Crucially, the circular prohibits charging customers for these transactions. UPI payments remain free for end-users, meaning the cost burden falls entirely on merchants or is absorbed by the payment ecosystem intermediaries.

Revenue Implications

One Mobikwik expects to monetize this regulatory shift through two primary channels within its payments business:

• As a Third-Party Application Provider (TPAP), earning on the P2M share of its consumer UPI Gross Merchandise Value (GMV).
• As an acquirer, generating revenue on its merchant GMV.

Transactions that were previously non-chargeable will now contribute to the company’s top line. The firm noted that it would update stock exchanges on the financial impact once the circular takes effect.

Strategic Outlook

The company views the introduction of the MDR as a strong enabler for its strategy to deepen its presence in the UPI ecosystem. Management indicated plans to scale its merchant business leveraging this new revenue model.

This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.