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India's Largest E-Commerce Entity IRCTC Picks MobiKwik as Primary Wallet for Payments

New Delhi {Press Release}: MobiKwik, India's largest independent mobile payments network, is now the first payment option on IRCTC Connect Android App. This association will enable MobiKwik users to book railway tickets in a convenient and secure manner from their smartphones. With approximately 25,000 to 30,000 tickets booked daily via IRCTC Android app, MobiKwik expects to spike the per day online ticket sales thanks to the ease of mobile wallet usage for payments.

The MobiKwik mobile payment solution will allow instant one-tap payments for ticket bookings placed through the mobile app. MobiKwik also plans to extend this on IRCTC’s other digital platforms.

Commenting on the partnership, MobiKwik Founder and CEO Bipin Preet Singh said, "It gives us great pleasure to announce that IRCTC has chosen MobiKwik as its preferred mobile wallet partner. Now that MobiKwik is integrated with the IRCTC Connect app, users can experience 'super-fast, express' payments and book all their rail tickets in a flash. MobiKwik wallet offering utmost ease and security in transactions, is bound to spike pan India booking of rail tickets via IRCTC mobile app. Thus, partnering with IRCTC, which drives the largest number of digital transactions in the country, we give a thrust to the government’s mandate of boosting wider adoption of digital money in India."

Crossing online sales worth USD 3 billion for the year ending March 2015, IRCTC became the largest e-commerce platform in the country. It owes bulk of its sales to rapid growth in digital transactions which is due to IRCTC’s strong user interface and a robust process system. This technological advancement will be further enhanced by this partnership as MobiKwik is the only mobile wallet that can boast of near 100 per cent success rate in processing payments.

Explaining the robust interface that IRCTC inherits, Bipin remarked, When retailers integrate MobiKwik's wallet interface, users get to make the payment from within the retailer's platform and no re-direction to MobiKwik is required. This allows complete ease of payments where transaction failure is nearly non-existent.

MobiKwik is disrupting the payments space further by creating an offline retail network of more than 100,000 merchants across India that will serve both, as points for cash loading into the wallet and for wallet payments acceptance. Other popular brands currently using MobiKwik’s services include Uber, Meru Cabs, Big Bazaar, OYO Rooms, Zomato, Café Coffee Day, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Domino's, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Star Sports, GoDaddy, MakeMyTrip, Cleartrip, and Yatra.

About MobiKwik

MobiKwik is India's largest independent mobile payments network connecting 25 million users with 50,000 retailers. It enables users to discover retailers (brick-and-mortar stores, e-com websites, m-com apps, billers, telcos) and then start paying them with 1-tap.

MobiKwik is powering payments for Uber, Meru Cabs, Big Bazaar, OYO Rooms, Zomato, Café Coffee Day, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Domino's, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Star Sports, GoDaddy, MakeMyTrip, Cleartrip, and Yatra. The company has raised close to $30 million in funding till now from Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments.

With MobiKwik, users load money into the wallet once using cash, loyalty points, debit card, credit card, and netbanking to make secure 1-tap payments for purchases. Most MobiKwik users make 10 purchases every month using their wallet balance across diverse use cases such as recharge, bills, food, grocery, travel & cabs, shopping, entertainment, etc. Users also transfer money to wallets and bank accounts of friends and family using MobiKwik. Users today enjoy MobiKwik wallet services on Android, Windows and iOS mobile applications and on MobiKwik.com.

MobiKwik aspires to be the largest source of digital transactions in India. The company’s goal is to power $5B in payments between 150M users and 500,000 retailers.

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