MobiKwik Introduces India’s First Mobile Money Transfer Service

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India’s leading mobile wallet service, MobiKwik, is experiencing increasing adoption in its new wallet-to-wallet (W2W) money transfer service with more than 1.5 lakh money transfers taking place in the last two months.

Launched on June 20, the new W2W service allows MobiKwik’s eight million registered users to make digital and mobile money transfers directly to consumers in one simple click.

MobiKwik, Co-founder, Upasana Taku said, “As acceptance of online payments and mobile wallet usage grows, Indian consumers are looking for simpler ways to make electronic transfers. This new feature gives consumers the convenient option of paying anyone at any time, from anywhere in a highly secure manner.”

The new W2W service also includes a unique ‘Request Money’ feature, which provides users a simple method of alerting others of any pending payments.

“Transfers as little as Rs. 1 or as high as Rs. 5,000 can be made in a single transfer and till date we have seen approximately Rs. 1 crore exchanged via the service. People are utilising the W2W feature for various reasons. However, some regular transactions we are seeing include people splitting bills, students and working professionals transferring money for bill payments, and friends exchanging money for group gift purchases.”

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To ensure the security of the W2W service, a One Time Password (OTP) is generated before each wallet money transfer is made.

Understanding that a seamless user experience is critical for any digital payment service, an updated version of the MobiKwik app is released every 15 days. MobiKwik also runs various promotions with its 700 strong online commercial partner base, which includes Book My Show, eBay, Domino’s, RedBus, and FashionAndYou.

For more information on MobiKwik, visit http://www.mobikwik.com, like their page on Facebook, follow on Twitter or download the app at Google Play, Windows, or Apple store.

About MobiKwik

Started in 2009, MobiKwik is India’s fastest growing mobile wallet with more than eight million users. The MobiKwik wallet enables users to pay in a flash for their recurring mobile recharge, bill payments and to pay for services and products on popular e-commerce websites including eBay, BookMyShow, Domino’s, RedBus, FashionAndYou, Purplle, Naaptol, Explara and DailyObjects. Users can enjoy MobiKwik Wallet services on MobiKwik.com, Android, Windows, iOS and BlackBerry mobile applications.

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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