Mobisafar

What Mobisafar does

Mobisafar Services Private Limited is an India-based fintech platform founded in 2015 and headquartered in Ludhiana, Punjab, that operates a multi-service Business Correspondent / Customer Service Point (CSP) network of 268,000+ active agents spread across 16,000+ retail locations. The platform consolidates banking (AEPS cash withdrawal, Micro ATM, account opening), domestic money transfer (DMT), utility bill payments (BBPS), travel and ticketing (IRCTC rail, bus, flight, hotel), insurance distribution, PAN card services, UPI-based cash withdrawal, and — most recently — courier and logistics through its Daakia.com sub-brand, into a single mobile app and agent login backed by a semi-closed wallet and Neo Banking architecture. The technology stack integrates with 25+ banking partners anchored by Suryoday Bank's Business Correspondent license, NPCI's AEPS and UPI rails, the Bharat Bill Payment System, multiple insurers (HDFC Ergo, ICICI Lombard, Digit, Bajaj Finserv), and logistics partners including Delhivery, Amazon Shipping, and India Post, with biometric authentication (fingerprint, iris, face) supported at the transaction layer.

The company makes money almost entirely through transaction-based commissions paid by agents to Mobisafar on every AEPS withdrawal, money transfer, bill payment, recharge, insurance policy, travel booking, PAN application, and courier parcel processed through the platform. Pricing is tiered across Retailer, Distributor, and Super Distributor membership levels, with no customer-facing subscription or per-seat fees; the model is pure take-rate on a high-volume, long-tail base. For FY2024-25, the company reported revenue from operations of INR 81.45 Crores (~$9.7M USD) and profit of INR 6.89 Crores, against INR 82.39 Crores revenue and INR 5.36 Crores profit in FY2023-24, indicating a mature, profitable, but near-flat top-line business with improving margins. Go-to-market is channel-driven: the company does not sell directly to end consumers but recruits and onboards local retailers and shop owners as agents, providing training, relationship management, and a single-app interface as the primary value proposition. End customers are predominantly rural and semi-urban Indian consumers who use these agent points for cash-in/cash-out, remittances, and utility payments in geographies where traditional bank branch and ATM infrastructure is sparse.

Name

Mobisafar

Legal name

Mobisafar Services Private Limited

Website

https://mobisafar.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Mobisafar is an India-based fintech platform that operates a network of 268,000+ retail agents offering AEPS banking, money transfer, bill payments, travel booking, insurance, PAN services, and courier logistics through a single app, serving rural and semi-urban consumers across 16,000+ locations.

Ownership category

akta.pro rank

Product category

Digital Payments & Fintech Services Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

akta.pro secondary industries

Payment Orchestration Platforms (FSAGABAA), Marketplace & Platform Seller Payouts (FSAMAKAE)

Keywords

• Digital payment services
• Agent banking platform
• Fintech service aggregation
• AEPS biometric payments
• CSP banking network

Headquarters

HQ city

Ludhiana

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Commission on Financial Transactions: Agents earn commission on every AEPS transaction (cash withdrawal, balance inquiry, deposit), DMT (money transfer), bill payments, and other financial services processed through the platform. Commission rates vary by service type and transaction volume.
2. Travel Booking Commissions: Commission on flight, train (IRCTC), bus ticket bookings, and hotel reservations made through the platform by agents on behalf of customers.
3. Insurance Distribution: Commissions earned from sale of health, life, motor, and accident insurance policies through the agent network.
4. Logistics via Daakia.com: Shipment booking services through courier partnerships, with agents earning margin on each parcel booking.
5. Digital Recharge Services: Commission on mobile, DTH, FASTag recharges and data card top-ups processed through the platform.
6. PAN Card and Government Services: Fees for PAN card applications, Aadhaar seeding, and other government-linked services offered through the network.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Mobisafar operates a multi-service fintech platform that enables retailers and shop owners to act as Customer Service Points (CSPs) offering banking, payments, bill payments, travel, insurance, and logistics services to end customers. The platform integrates AEPS (Aadhaar Enabled Payment System), UPI cash withdrawal, Domestic Money Transfer, BBPS bill payments, micro ATM, IRCTC ticketing, insurance distribution, and the Daakia.com courier franchise through a single mobile app and login. Revenue is generated through commission on transactions processed by the 268,000+ agent network across 16,000+ locations in India.

Product overview

Mobisafar is a multi-service agent network platform enabling Customer Service Points (CSPs) to offer financial, travel, logistics, and utility services through a single app and login. The core platform integrates Banking Services (via Suryoday Bank and other banking partners), AEPS (Aadhaar Enabled Payment System) with biometric authentication (face and iris), Micro ATM, Domestic Money Transfer (DMT), Bill Payment/BBPS, Travel Ticketing (IRCTC, buses, flights, hotels), Insurance distribution, PAN Card services, UPI Cash Point/Withdrawal services, and the Daakia.com courier franchise. The platform operates on a semi-closed wallet and Neo Banking model, serving over 268,000 active agents across 16,000+ locations in India.

Differentiator

Problem solved

Functional benefit

Brands

• Daakia.com: Courier and logistics services platform launched on Mobisafar's 10th anniversary, enabling agents to offer shipment booking services with India's leading courier partners.

Products and services

• Banking & Financial Services (CSP) Customer Service Point banking services enabling fund transfers, withdrawals, deposits, balance inquiries, Cash to Account, and account opening through partnerships with 25+ banks including Suryoday, Axis, Kotak, ICICI, and Yes Bank. Offered to retailers who become Mobisafar CSP agents to serve end customers.
• AEPS (Aadhaar Enabled Payment System) Aadhaar-based biometric payment system allowing cash withdrawal, balance inquiry, and banking transactions using fingerprint, face authentication, or iris scan without requiring a debit card. Used by 1,68,000+ AEPS agents nationwide.
• Micro ATM Services Assisted banking services through micro ATM devices enabling cash withdrawal and other banking transactions in rural and semi-urban areas where traditional ATM access is limited.
• Domestic Money Transfer (DMT) Instant domestic money transfer service enabling agents to facilitate fund transfers across India with commission-based earnings.
• Bill Payment / BBPS Bharat Bill Payment System powered bill payment services for electricity, water, gas, broadband, and mobile bills with instant commission on transactions. Platform serves 10 million+ bill payments every month.
• Travel & Ticketing Services Online travel booking platform for flights, trains (IRCTC), buses, and hotels through partnerships with IRCTC, RedBus, AbhiBus, and Travel Boutique Online. Agents earn commission on each booking.
• Insurance Distribution Insurance distribution platform for life, health, motor, and accident insurance products through partnerships with HDFC Ergo, Digit Insurance, Bajaj Finserv, ICICI Lombard, and Global Assure. Served by a growing network of 40,000+ insurance service providers.
• PAN Card Services PAN card application and update services through authorized partnerships (including UTI PAN), serving customers across 5,000+ cities.
• UPI Cash Point Cash withdrawal service using UPI that enables customers to withdraw cash from participating retail locations without an ATM or bank visit. Agents earn commission on each cash-out transaction.
• Daakia.com Courier Services Courier and logistics franchise launched on the company's 10th anniversary, enabling local courier hub operations with partnerships to Amazon Shipping, Delhivery, Ecom Express, India Post, and Xpress Bees. Network of 25,000+ Daakia partners across India.
• Digital & Recharge Services Mobile, DTH, FASTag, and data card recharge services along with Aadhaar seeding and digital service assistance.
• Account Opening Services Zero balance bank account opening services through CSP partnerships, enabling financial inclusion for unbanked populations. Empowering 1 lakh+ retailers to onboard bank account customers.
• Indo-Nepal Money Transfer Cross-border money transfer service enabling fund transfers between India and Nepal.

Quantifiable outcome

• 268,000+ active agents on platform
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

20 partnerships are on record, tiered core and minor.

• Axis BankcoreStrategic or Co-development PartnerAxis Bank CSP (Customer Service Point) partnership enabling Mobisafar agents to offer banking services under Axis Bank branding.
• Suryoday BankcoreStrategic or Co-development PartnerSuryoday Bank CSP & Kiosk partnership - one of the primary banking partners for Mobisafar's CSP model.
• Kotak Mahindra BankcoreStrategic or Co-development PartnerKotak Bank CSP partnership for banking services through Mobisafar agent network.
• ICICI BankcoreStrategic or Co-development PartnerICICI Bank partnership for banking services through the agent network.
• Yes BankcoreStrategic or Co-development PartnerYes Bank banking partnership for financial services.
• Fino Payments BankcoreStrategic or Co-development PartnerFino Payments Bank partnership for banking services.
• Airtel Payments BankcoreStrategic or Co-development PartnerAirtel Payments Bank integration for digital banking services.
• IRCTCcoreChannel Partner/ Reseller/ DistributorIRCTC authorized ticket booking agent network for railway ticket bookings.
• NPCI (National Payments Corporation of India)coreTechnology or IntegrationNPCI enables AEPS and UPI payment services on the Mobisafar platform.
• Bharat Bill Pay (BBPS)coreTechnology or IntegrationBharat Bill Payment System platform integration for utility bill payments.
• HDFC ErgominorChannel Partner/ Reseller/ DistributorInsurance product distribution partnership for HDFC Ergo health and general insurance.
• ICICI LombardminorChannel Partner/ Reseller/ DistributorInsurance distribution partnership for motor and general insurance products.
• Digit InsuranceminorChannel Partner/ Reseller/ DistributorDigital-first insurance products distribution through agent network.
• Bajaj FinservminorChannel Partner/ Reseller/ DistributorFinancial products distribution including insurance and lending referrals.
• DelhiveryminorChannel Partner/ Reseller/ DistributorLogistics partnership through Daakia.com for parcel booking services.
• India PostminorChannel Partner/ Reseller/ DistributorGovernment postal services integration for speed post and courier through Daakia.
• Amazon ShippingminorChannel Partner/ Reseller/ DistributorE-commerce logistics partnership for shipping services.
• RedBusminorChannel Partner/ Reseller/ DistributorBus ticket booking integration through Mobisafar travel services.
• UTI Infrastructure Technology and Services Ltd (UTI PAN)minorChannel Partner/ Reseller/ DistributorPAN card application services through UTI PAN partner network.
• Digital IndiacoreStrategic or Co-development PartnerGovernment initiative alignment for digital financial inclusion services.

Scale indicators13 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Fino Payments Bank: Fino operates one of India's largest BC/CSP-led banking and payment distribution networks, offering AEPS, DMT, BBPS, micro-ATM, and bank account opening through merchant agents. It is the most direct public-market comparable to Mobisafar in business model, customer segment (rural/semi-urban), and revenue mix.
• PayNearby: PayNearby runs a multi-service digital retail network of over 1 million active retailers offering banking, payments, travel, insurance, and e-commerce services in Tier 2-6 India. It overlaps Mobisafar directly on the CSP-led multi-service agent-network model targeting financial inclusion.
• Spice Money: Spice Money (subsidiary of Spice Digital) operates an agent network of 500,000+ nanostores offering AEPS, DMT, BBPS, recharges, insurance, and travel. The business model, agent onboarding mechanics, and rural/semi-urban focus mirror Mobisafar's.
• India1 Payments: India1 Payments operates a BharatATM-style agent network providing AEPS, micro-ATM, money transfer, bill payments, and PAN services to underserved Indian markets. Comparable in product breadth, CSP economics, and agent-driven GTM.
• Eko India Financial Services: Eko enables small merchants to offer digital financial services including money transfer, bill payments, AePS, and recharges through its API and agent app. It is a direct competitor in the assisted-banking agent network space with overlapping product set.

Broad incumbents

• Airtel Payments Bank: Airtel Payments Bank is a listed payments bank with a deep retail agent network offering banking, payments, and savings services. It is a broad incumbent overlap on the BC/CSP-led banking distribution model and one of Mobisafar's bank partners for Aadhaar-based services.
• Jio Payments Bank: Jio Payments Bank is a newer payments bank backed by Reliance with growing reach into digital banking and merchant payments. It competes with Mobisafar indirectly via its own expanding agent footprint and digital UPI-led customer acquisition.
• India Post Payments Bank (IPPB): IPPB leverages India's post office network of 150,000+ branches to deliver banking, AEPS, DMT, and bill payment services in rural areas. It is a public-sector broad incumbent in the same financial-inclusion distribution space as Mobisafar.
• Paytm: Paytm is a leading Indian digital payments and financial services platform with its own merchant and agent ecosystem spanning UPI, payments banking (legacy), bill payments, insurance, and travel. It is a broad incumbent across nearly all of Mobisafar's product categories, though at very different scale.
• Bajaj Finserv Direct: Bajaj Finserv distributes insurance, lending, and consumer finance products through partner and direct agent networks in India. It overlaps with Mobisafar on the insurance distribution and financial-services agent-network model as one of Mobisafar's listed insurance partners.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/mobisafar

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mobisafar