MobiKwik

MobiKwik
Private
Industry Mobile Wallets / Online Payments
Founded April 2009 (2009-04)
Founder Bipin Preet Singh, Upasana Taku [1][2]
Headquarters Gurgaon
Area served
 India
Services Mobile and online payments, phone and DTH recharges, money transfers, shopping
Parent One MobiKwik Systems Private Limited
Website mobikwik.com

MobiKwik is a mobile wallet and online payment system where a user can store money in an online "wallet" to make mobile and DTH recharge, pay utility bills, and shop at listed merchants. The MobiKwik wallet has to be loaded with money once before it can be used across functions.[3][4] MobiKwik provides users the option to add money using their debit or credit card, net banking, and ‘cash pay’, a doorstep cash collection service. MobiKwik wallet is a semi closed wallet authorized by Reserve Bank of India.[5]

History

MobiKwik was founded by Bipin Preet Singh and Upasana Taku in 2009.[2] Over the years, MobiKwik extended their service on mobile apps.[6][7]

They tied up with various online merchants such as eBay India, BookMyShow, Dominos India and ShopClues to provide accessibility of their wallet as a payment option on e-commerce sites.[8][9] Moreover, Mobikwik also introduced the feature of sending and receiving money via MobiKwik mobile app.[10][11] Mobikwik raised under $5 million in its Series A funding from an unnamed US-based VC firm in 2013 and is expected to get another $30 million in the coming year.[12]

On November 28, 2016 MobiKwik launched its MobiKwik Lite app aimed at users in poor connectivity regions.[13]

Business model

A user has to add money once to MobiKwik wallet and can then use it multiple times across functions, services, and service providers. Storing money in MobiKwik wallet reduces the risk of exposing card details or bank account details at multiple merchants when shopping online.[8]

Achievements

Awards

In 2014, MobiKwik won the mBillionth Award South Asia in the category of Mobile Business.[17]

References

  1. ↑ Team. "Team".
  2. 1 2 Bayliss, Duane. "Telecomtalk Interview Mobikwik CEO Bipin Singh". telecomtalk.info. Retrieved 2009-10-03.
  3. ↑ Agarwal, Meha. "Mobikwik becomes India's first Mobile Consumer Wallet". iamwire.com. Retrieved 2013-09-28.
  4. ↑ "About Us".
  5. ↑ Nikhil Pahwa (2013-08-12). "Paytm, Mobikwik Allocated Prepaid Wallet Licenses By RBI; Flipkart?". medianama.com. Retrieved 2014-10-29.
  6. ↑ "Mobikwik.com launches India's fastest online recharge service". asiancorrespondent.com. Retrieved 2009-11-10.
  7. ↑ Jain, Deepak. "Mobikwik – Simplest Way to Recharge your Mobile Online". mobilegyaan.com. Retrieved 2009-12-10.
  8. 1 2 Balanarayan, B T. "Mobikwik integrates wallet to e-commerce sites". medianama.com. Retrieved 2014-06-04.
  9. ↑ Chakraborty, Sayan. "Local mobile wallets MobiKwik, Paytm find many a taker in global names". computer.financialexpress.com. Retrieved 2014-09-30.
  10. ↑ August 22, 2014 by Sivaprasad Nair. "Now share your wallet with MobiKwik's Mobile Money Transfer". nextbigwhat.com. Retrieved 2014-08-22.
  11. ↑ "Recharge, Pay Through E-Wallet MobiKwik's Android app is the highest rated Recharge app on Google Play". businessworld.com. Retrieved 2012-12-05.
  12. ↑ Abudheen, Sainul. "Online recharge & mobile wallet co MobiKwik close to raising up to $30M". vccircle.com. Retrieved 2014-11-06.
  13. ↑ "MobiKwik Lite Wallet App Launched for 2G Internet Connections". November 28, 2016. Retrieved November 28, 2016.
  14. ↑ Gore, Dipti. "Now pay for tickets at PVR through MobiKwik wallet". techstory.in. Retrieved 2015-04-01.
  15. ↑ Hussain, Shabana. "Mobikwik's journey and the path ahead". forbesindia.com. Retrieved 2015-04-06.
  16. ↑ Aggarwal, Varun. "Cisco, Amex & Treeline invest $ 25 million in Mobikwik". economictimes.indiatimes.com. Retrieved 2015-04-08.
  17. ↑ "winners 2014".

Further reading

External links

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