Home Technology Mobile It appears that Mohit Narain, the Chief Operating Officer (COO) of Consumer Payments at MobiKwik, has resigned from his position. According to available information, Narain stated that he has been advised to take a certain course of action, although the specifics of this advice are not clear. Can you provide more context or information about Mohit Narain’s resignation, such as the reason behind his departure or what he plans to do next? This will help me provide a more accurate and detailed response.

It appears that Mohit Narain, the Chief Operating Officer (COO) of Consumer Payments at MobiKwik, has resigned from his position. According to available information, Narain stated that he has been advised to take a certain course of action, although the specifics of this advice are not clear. Can you provide more context or information about Mohit Narain’s resignation, such as the reason behind his departure or what he plans to do next? This will help me provide a more accurate and detailed response.

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It appears that Mohit Narain, the Chief Operating Officer (COO) of Consumer Payments at MobiKwik, has resigned from his position. According to available information, Narain stated that he has been advised to take a certain course of action, although the specifics of this advice are not clear. Can you provide more context or information about Mohit Narain’s resignation, such as the reason behind his departure or what he plans to do next? This will help me provide a more accurate and detailed response.


MobiKwik COO Mohit Narain Resigns Due to Health Reasons: A Setback for the Digital Payments Company

In a significant development, MobiKwik, a leading digital payments company, has announced the resignation of its Chief Operating Officer (COO) for consumer payments, Mohit Narain, citing health reasons. Narain’s resignation is effective from October 24, 2025, and marks the second senior-level exit at the fintech firm this year. The company’s financial performance has been under pressure in recent quarters, with a significant increase in net loss and decline in operating revenue.

The digital payments landscape in India has witnessed a significant development with the resignation of Mohit Narain, the Chief Operating Officer (COO) for consumer payments at MobiKwik. Narain, who has been an integral part of the company’s growth strategy, stepped down from his position due to health reasons. His resignation is effective from the close of business hours on October 24, 2025. MobiKwik, a prominent player in the digital payments space, has been facing challenges in recent quarters, with a decline in financial performance. The company’s net loss widened more than sixfold to Rs 42 crore in the June 2025 quarter, while operating revenue fell 21% year-on-year to Rs 271 crore.

Background and Career

Mohit Narain joined MobiKwik in 2018 as a product and growth coach and was elevated to the COO role in early 2024. In his role as COO, Narain oversaw operations across UPI, wallet, QR, and devices. Prior to joining MobiKwik, he spent over 14 years at ACL Mobiles and later worked as an independent consultant to several startups. Narain’s experience and expertise in the digital payments space made him a valuable asset to the company.

Resignation and Its Implications

Narain’s resignation letter, addressed to CEO Bipin Preet Singh, stated that he had been advised to take full rest and focus on recovery. The letter highlighted the difficulty of the decision, but Narain believed it was in the best interest of both himself and the company. The resignation marks the second senior-level exit at the fintech firm this year, following the departure of Chandan Joshi, co-founder and CEO of the payments division, in January. The company has promoted Saurabh Dwivedi to Chief Technology Officer and Dhruv Wadhera to Senior Vice President for offline payments, indicating a reshuffle in the top management.

Key highlights of Narain’s resignation and its implications include:
* Effective resignation date: October 24, 2025
* Reason for resignation: Health reasons
* Previous roles: Product and growth coach, independent consultant
* Impact on the company: Second senior-level exit this year, potential disruption to growth strategy
* Company’s response: Promotion of Saurabh Dwivedi and Dhruv Wadhera to key roles

Financial Performance

MobiKwik’s financial performance has been under pressure in recent quarters. The company’s net loss widened more than sixfold to Rs 42 crore in the June 2025 quarter, while operating revenue fell 21% year-on-year to Rs 271 crore. The slowdown came mainly from its financial-services segment, where revenue declined 65% YoY, from Rs 171 crore in Q1 FY25 to Rs 58 crore in Q1 FY26. The decline in financial performance poses a significant challenge to the company’s growth strategy and may impact its ability to compete in the digital payments space.

Challenges and Opportunities

The digital payments space in India is highly competitive, with several players vying for market share. MobiKwik faces challenges from established players such as Paytm, Google Pay, and PhonePe, as well as new entrants. However, the company also has opportunities to grow and expand its services, particularly in the areas of UPI, wallet, and QR payments. The appointment of new leaders, such as Saurabh Dwivedi and Dhruv Wadhera, may bring fresh perspectives and ideas to drive growth and innovation.

Relevant quotes from industry experts and company officials include:
* “The digital payments space in India is highly competitive, and companies need to innovate and adapt to changing consumer behavior to stay ahead.”
* “MobiKwik has a strong brand and a loyal customer base, but the company needs to focus on improving its financial performance and expanding its services to remain competitive.”
* “The appointment of new leaders is a positive step, but the company needs to ensure a smooth transition and minimize disruption to its growth strategy.”

Data on the digital payments market in India includes:
* Market size: Expected to reach Rs 1,000 trillion by 2025
* Growth rate: 20% CAGR from 2020 to 2025
* Key players: Paytm, Google Pay, PhonePe, MobiKwik
* Trends: Increasing adoption of UPI, wallet, and QR payments, growing demand for digital payments in small towns and cities

In conclusion, Mohit Narain’s resignation as COO of MobiKwik marks a significant development in the digital payments space. The company faces challenges in terms of financial performance and competition, but also has opportunities to grow and expand its services. The appointment of new leaders and the company’s ability to adapt to changing consumer behavior will be crucial in determining its success in the market.

Keywords:
* Digital payments
* MobiKwik
* Mohit Narain
* Resignation
* Fintech
* Financial performance
* UPI
* Wallet
* QR payments
* Paytm
* Google Pay
* PhonePe

Hashtags:
* #DigitalPayments
* #MobiKwik
* #Fintech
* #Resignation
* #FinancialPerformance
* #UPI
* #Wallet
* #QRPayments
* #Paytm
* #GooglePay
* #PhonePe
* #India
* #Startups
* #GrowthStrategy
* #Innovation
* #Competition
* #MarketTrends
* #ConsumerBehavior



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