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MobiKwik is India's largest fintech platform connecting 107 million users with more than 3 million direct merchants. It enables users to discover retailers (brick-and-mortar stores, e-com websites, m-com apps, billers, telcos) and make payment at such retailers in 1-tap. In addition to being one of the largest sources of digital payments in India, MobiKwik aspires to back the financial needs of the Indians by making personal loans and insurance covers easily accessible to all. It is the first company in the industry to offer instant personal loan of Rs 1 lakh on a mobile wallet and offer Insurance covers at pocket sized premiums of Rs 20. MobiKwik has also established itself as one of India's leading new age wealth management platforms, enabling users to invest in Mutual funds or digital gold. International recharges is another rare service that MobiKwik has recently enabled. It enables users to make recharges across 150+ international operators in local currency. MobiKwik wallet allows users to earn SuperCash, MobiKwik loyalty points, on online payments and use that SuperCash on subsequent payments to avail instant discounts. It also offers users IMPS service (wallet to bank transfer) and UPI service (bank to bank transfers). All the services can be availed via www.mobikwik.com or the MobiKwik application which is available on Android, Windows, and IOS. MobiKwik is the only firm in the Digital payments and E-commerce industry to become operationally profitable. It turned profitable in August 2019. MobiKwik envisions building affordable and accessible services for Bharat and aims to empower the users financially and digitally.
MobiKwik is a mobile wallet app used for P2P Money Transfer and retail payments.MobiKwik is the way to recharge mobiles, pay bills and shop across merchants in India.
Mobile wallet services - mobile recharge, postpaid bill payment, online DTH recharge, money transfer services to friend & family members, shopping, life insurance, electricity, landline and gas bill payments, etc. It provides a simple online/offline payments services to their merchant partners.
Company earns revenue by charging a percentage of the transaction as a fee from merchants, and also collects commission from mobile networks.
It has around 50,000 merchants (retailers/offline) and 20,000 merchants (online). Major clients are Café Coffee Day
Partnered with loyalty brands Payback
Cardback - to provide more loyalty services to their customers and strengthen the network
$625 M in 2016
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