The mobile payment network MobiKwik has recorded 1800% increase in transactions in Jaipur and 200% increase in the user base in the city, according to a statement released from the company. Even the local vendors are adopting MobiKwik, it said.
Speaking about the achievement, Bipin Preet Singh, Co-founder, MobiKwik said, “We have witnessed tremendous growth in Jaipur since demonetization was announced by the government of India. It is encouraging to see the growing adoption of MobiKwik wallet in the city.”
“Jaipur has been one of the most important cities for us and we also launched our cash pick up service in Jaipur only, after the major metros,” he added.
The e-wallet, with its simple user interface, make the payments easier. Users can even register using Truecaller. They can load money into the e-wallet using the credit card, debit card, or net banking. The users can convert the points they receive from various sellers/service providers as MobiKwik cash. Payback points of ICICI bank debit/credit cards, Big Bazaar, Central, HP Petrol Pumps, MakeMyTrip, eBay, BookMyShow and American Express or the reward points earned from SBI, Bank of India, Punjab National Bank, Central Bank, Canara Bank, Union Bank and Bank of Baroda can be converted this way.
MobiKwik has a merchant base of over 1,50,000. There is a feature “nearby” in its app using which the nearby merchants can be spotted.
Demonetization has resulted in the profit growth of e-wallet services. In the case of MobiKwik, the company has registered 18x times growth in transactions since the announcement of demonetization.
In the past few days, MobiKwik introduced several facilities for its users. MobiKwik announced zero percent cash transaction fee, following which Paytm too adopted the measure. MobiKwik partnered with Indian Railway Catering and Tourism Corporation (IRCTC) to launch e-cash payments for Tatkal bookings.