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Breaking News: MobiKwik launches cash pick up service in Surat - Printable Version

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MobiKwik launches cash pick up service in Surat - rahul1117_kumar - 06-29-2016

MobiKwik – the largest independent mobile payments company in India with over 32 million users and a network of 100000 merchants has launched cash pick up in Surat. With this launch, MobiKwik users in Surat can now load their wallet with cash from the convenience of their homes or offices. Upon request, a MobiKwik representative will reach user’s location within 30 minutes and load user’s wallet with cash instantly.

Speaking on this launch, Upasana Taku, co-founder, MobiKwik said, “Cash pick up by MobiKwik is a unique service that helps us serve those who want to load their wallets with cash, instead of cards or net-banking. The service is also extremely helpful for unbanked users, who can now convert their cash into mobile money.” MobiKwik is the only wallet in India that allows cash pick up for wallet loading. The company launched cash pick up service in September 2015 in New Delhi, Bangalore and Mumbai. Since then, the service has been registering 75 percent month-on-month growth.

In May 2016, MobiKwik launched cash pick up in Jaipur. “There were two major reasons why we chose Surat to launch. The first reason is that the market is promising and we have a significant user base here and second was that I have spent 12 years of my life in the city and have a special connection with it.” Upasana added. MobiKwik wallet is powering payments for IRCTC, Uber , Meru Cabs, Big Bazaar, OYO Rooms, Zomato , PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Domino’s, Burger King, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Barista, Food Panda, nearbuy, Van Heusen, Allen Solly, Louis Phillips, GoDaddy, MakeMyTrip, Cleartrip, and Yatra.

This is how MobiKwik works: An agent arrives -> User hands over cash to the MobiKwik agent -> Agent initiates the cash transaction -> User receives OTP on his mobile phone -> Shares OTP with the MobiKwik agent -> Agent keys in the OTP on his app -> User gets confirmation of updated wallet balance. The user also gets to view on the app, the name and photograph of the agent responsible for the pickup. All MobiKwik cash pick up agents are dressed in uniform, which further helps in identification.

MobiKwik was founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised three rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway and Cisco Investments. MobiKwik aspires to be the largest source of digital transactions in India.