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MobiKwik has fortified its leadership team with the appointment of Mohit Narain as COO – Consumer Payments. Additionally, Harvinder Singh Chadha has joined its subsidiary Zaakpay from Cashfree as Vice President to focus on merchant acquisition and banking partnerships.

Narain has been with the fintech unicorn for more than five years. He previously served as an Operational Excellence Coach.

“He has been instrumental in driving overall organisational growth by putting processes in place as well as resource and cost optimisation,” the company said in a statement.

In his new position as Chief Operating Officer – Consumer Payments, Narain will oversee operational efficiencies across various payment services such as UPI, MobiKwik Wallet, Offline QR, and devices like Soundbox and POS terminals.

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Chadha recently joined the company from Cashfree Payments, where he held a leadership position in the enterprise business division. With experience spanning over 20 years in banking and fintech, Chadha has collaborated with institutions such as Standard Chartered Bank, YES Bank, and HSBC, focusing on expanding their payment operations.

In his new role at Zaakpay, he will spearhead the growth of the company’s payment gateway business. His responsibilities will include driving online merchant acquisition for both small and medium businesses (SMBs) and enterprises, establishing banking partnerships, and assembling teams to facilitate scalable and sustainable growth.

In September 2023, Tata Digital appointed Mukul Saxena, who had previously served as CEO of MobiKwik’s financial services, as Chief Business Officer to lead fintech initiatives.

Zaakpay, the secure payment gateway arm of MobiKwik, had received in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator after MobiKwik reapplied for the license in October 2022 following the rejection of its initial application.

“The digital payments landscape in India has gone through a remarkable surge in adoption. Recognising the evolving needs of India’s businesses and consumers, we have made these strategic appointments to further strengthen our foothold in the payments space,” said Bipin Preet Singh, Co-founder and CEO, MobiKwik.