AkikoPay onboards 1 lakh customers in 18 days; KYC underway

AkikoPay onboarded about 1 lakh customers in the 18 days covered by a November 2026 management update, while Know Your Customer (KYC) completion was still progressing across the base. More than 85,000 customers were on Android, and the iOS app was live, but management did not disclose a verified-customer total.

How quickly did AkikoPay add customers?

AkikoPay added about 1 lakh customers in 18 days, according to management’s November 2026 update. The presentation separately reports more than 85,000 Android customers from the overall onboarded total, indicating that Android represented the disclosed majority of early sign-ups while iOS availability had also begun.

The stated onboarding figure measures customers added rather than verified customers, transacting customers or revenue-generating customers. Management said daily transactions were under way and described early activity as encouraging, but the presentation gives no daily transaction count, transaction value, repeat-use metric or split between Android and iOS beyond the 85,000-plus Android figure.

The 18-day disclosure is a launch-period measure, and AkikoPay does not provide an earlier customer base for a period-on-period comparison. The reported distinction is between about 1 lakh onboarded users and an unspecified number who had completed KYC, rather than between two reported active-user periods.

What does KYC progress mean for AkikoPay customers?

KYC completion remained in progress across AkikoPay’s onboarded customer base in November 2026. KYC is the identity-verification process referred to by management, and the presentation does not disclose either a completion percentage or the number of the about 1 lakh customers who had finished the process.

That disclosure is relevant because the app’s current offering includes wallet and prepaid-card services alongside credit products. AkikoPay says customers can load the wallet through eligible credit cards or the Unified Payments Interface (UPI), transfer eligible wallet funds to a bank account, or use a RuPay prepaid card for supported online purchases. The presentation does not state which of these actions require completed verification.

Management’s wording shows that onboarding and verification were at different stages in the launch process. It does not establish that all 85,000-plus Android customers, or all about 1 lakh total customers, could use every available product, while the source provides no verified-user, active-user or completed-transaction total.

Which AkikoPay services are available now?

AkikoPay lists iOS and Android apps, wallet and prepaid-card services, credit-score analysis, credit products, visa services, Niyo zero forex account opening, gift vouchers and travel bookings as live in November 2026. Its service menu also includes downloading a credit report, viewing a RuPay card, HDFC EMI conversion, credit-card applications, personal loans and fixed-deposit-backed credit-card options.

The credit-products offering spans credit-card eligibility and personal, home and car loans, while the credit-information element provides free access to credit-health information and an available credit report. These services create entry points besides payments, including credit reports, loan searches, travel-related services and gift cards.

For payments, UPI wallet loading was live, while outgoing UPI Scan & Pay was not live at the time of the November 2026 presentation. The distinction is that customers could load a wallet through UPI, but management identified outgoing Scan & Pay as a later rollout requiring approval and integration.

How is AkikoPay intended to support financial-product distribution?

AkikoPay is designed to move a customer through four stages: acquire, match, engage and expand. In the first stage, AkikoPay and the distribution network help customers discover products and assess eligibility; in the second, bank and non-banking financial company (NBFC) partners handle application, underwriting and approval.

The third stage keeps the relationship within AkikoPay through the wallet, card, credit information and other services. The fourth stage is intended to expand usage through relevant financial products and suitable cross-selling, positioning the app as a customer-acquisition and engagement layer alongside its payments functions.

The company reported 50 branches across India and the United Arab Emirates, including 18 at its Delhi headquarters and one in Dubai, as well as four offices in Noida. The presentation also lists HDFC Bank, ICICI Bank, Axis Bank, SBI Card, Bajaj Finance and Tata Capital among its top financial partners.

What is the next milestone for AkikoPay?

Management expects the required TPAP approval in early December 2026. AkikoPay identifies this approval as the next milestone before the planned rollout of UPI Scan & Pay after approval and integration, rather than presenting the function as available in November 2026.

The roadmap also names insurance and wealth products as planned additions, but it gives no launch date, customer target or revenue target for either category. Similarly, management provides no timetable for KYC completion across the about 1 lakh onboarding base, leaving the progression from app sign-up to verified use only partly disclosed.

The disclosed execution steps are KYC progress among launch-period customers, the TPAP approval expected in early December 2026 and Scan & Pay integration after approval. Those steps relate respectively to verified access, payment functionality and the company’s stated plan for continued engagement.

Conclusion

AkikoPay’s November 2026 update reports rapid early acquisition, with about 1 lakh customers onboarded in 18 days and more than 85,000 on Android. The presentation distinguishes these registrations from KYC-completed customers and does not quantify transaction volumes, verified users or repeat engagement, while the live product set combines wallet, prepaid-card, credit-information, lending, travel and visa services.

The next disclosed event is management’s expectation of TPAP approval in early December 2026, followed by planned UPI Scan & Pay integration. Future disclosure on KYC completion, wallet and RuPay service usage, and the timing of insurance and wealth-product rollouts would show how the initial onboarding base develops.