What is MobiKwik? MobiKwik Review

About MobiKwik

MobiKwik was founded in 2009. Its main product is a mobile wallet application that allows users to use online payment for daily payment activities such as mobile phone recharge and bill payment. It can be roughly compared to "Indian Alipay".

At present, the company has reached cooperation with more than 50,000 merchants, including Café Coffee Day, PVR, Domino's Pizza, Pizza Hut, Tasty Khana, Just Eat, eBay, Jabong, Snapdeal, Shop Clues, Home Shop18, etc. The significance behind this is that since mobile e-commerce and smartphones are not yet popular in India, it is very important to guide users to use mobile payments with offline resources at this stage.

Indian payment wallet Mobikwik market situation

Sequoia Capital, GMO, and Lianfa Investment, India's second largest payment wallet, with more than 65 million users, and after the demonetization policy was issued, the app's daily downloads increased by 40%. The number of users ranks second; IndusIndBank, a local bank in India with 10 million users, announced that it has reached a cooperation with MobiKwik, and the two parties will launch a co-branded digital wallet product 'IndusInd Mobikwik'.

Indian payment wallet Mobikwik business content

After users deposit money into the e-wallet, they can purchase products or services through applications, web pages, mobile websites, text messages or phone calls. They can also use it to pay for mobile phones, TVs, data cards, broadband, landlines, electricity bills, gasoline bills and insurance premiums.

MobiKwik is building an application platform that will seamlessly hand over Bajaj Finance credit lines to pre-approved e-wallet holders for repayment in equated monthly instalments (EMIs). Bajaj Finserv has 55 million users and MobiKwik will immediately gain access to around 100 million Bajaj Finance customers through this partnership.