MobiKwik’s Consumer Payments COO Mohit Narain steps down

Digital payments company MobiKwik has announced the resignation of its Chief Operating Officer for Cosumer Payments, Mohit Narain, citing health reasons.

According to a stock exchange filing, Narain will step down from his role effective from the close of business hours on October 24, 2025. The company said his decision comes after being advised to take rest and focus on recovery.

Narain joined MobiKwik in mid-2018 and was elevated to COO for Consumer Payments in February last year to oversee operations across UPI, Wallet, QR, and devices.

This is the second high-profile exit from the company in 2025. In January, Chandan Joshi, the co-founder and CEO of the payments division, stepped down. The firm had also announced key leadership promotions earlier this year to strengthen its core operations. In January, Saurabh Dwivedi was promoted to Chief Technology Officer (CTO), while Dhruv Wadhera was elevated to Senior Vice President (SVP), Offline Payments.

MobiKwik’s operating revenue fell 21% to Rs 271 crore in Q1 FY26 from Rs 342 crore in Q1 FY25, meanwhile the company’s losses rose over 6X to Rs 42 crore in Q1 FY26 in the same quarter last year.