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Mobikwik launches a New Avatar of its mobile wallet in India

In India we had frequent changes to the prepaid instruments loading limit. How much you load your prepaid instrument directly affects how much it will be attractive to end consumers. A few thousands didn't do any good. Finally RBI allowed INR 50,000 to be loaded on your prepaid instrument and that led a number of players (PayTM/One97, Mobikwik, Flipkart, etc.) to apply for prepaid license to launch various products such as Mobile wallets. Mobikwik has announced the release of the New Avatar of its Mobile Wallet for Android and iOS on 27th September, 2013. Its important to note that they had a mobile wallet and an app for a while now. That app had over 500,000 downloads. This statistics is for the old app which was a closed loop mobile wallet.

Before we talk more about this lets look at the basics. The prepaid cards can be categorized into ope ...

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