Mobikwik is a Digital wallet company. It is an Indian company founded in 2009. It provides a payment system in which customers can add money to their online wallet and can further use it for payments.
The company launched an e-wallet system in 2012 that enabled users to deposit money online so that they can use it for bill payments and other features. It enabled us to perform numerous online payments like transferring money, accepting payments, mobile recharges, payment of utility bills, such as electricity, internet, DTH, and online shopping, and many more.
Industry Digital wallets/E-commerce payment system
Founded April 2009
Founder Bipin Preet Singh, Upasana Taku
Headquarters Gurgaon, India
Area served India
Services Mobile and online payments, phone and DTH recharges, money transfers, shopping
Parent One MobiKwik Systems Private Limited
MobiKwik also offers financial services including loan, accident insurance, life insurance, fire insurance, mutual funds, and DTH recharge, IMPS money transfer, credit card bill payment.
In June 2017, 80 percent of India’s versatile wallet exchanges were performed by Paytm and Mobikwik. In March 2017, Their biggest rival was Paytm.
In April 2015, MobiKwik was utilized by 15 million clients and professed to include one million new clients consistently, as indicated by Forbes India Magazine.
In association with CashCare, They started giving little advances in the form of loans between 500–2,500 Indian rupees to clients in May 2016. In November 2016, MobiKwik had over 1.5 million shippers utilizing its administration and 55 million clients.
Due to 2016 Indian banknote demonetization in November 2016, The company realized a 400% expansion in money related exchanges utilizing the administration by late December 2016. In February 2017, the organization reported designs to contribute around USD$45 million to extend its client base from 50 million to 150 million clients in 2017.
In 2019, the Company reported another organization with DT One to grow its administration globally. Likewise in 2019, the organization started offering advances, protection, and speculation counsel.
MobiKwik Payment Gateway collaborated with Uber in July 2015, which empowered Uber and its drivers to use MobiKwik to process charge and Visa installments.
In November 2016, They also launched its mobile app called MobiKwik Lite, focused on clients in poor web availability areas and shoppers utilizing 2G Mobiles. On 8 November 2017, IDFC Bank went into a key association with MobiKwik to dispatch a virtual Visa prepaid card for customers.
They additionally introduced a feature of sending and accepting cash by means of this Mobile app.
In 2014, MobiKwik won the mBillionth Award South Asia under the category of Mobile Business, for socially important commitments to South Asia’s advanced framework.