Mobikwik Launches Partial Payment Feature For Bus Ticketing; Will Do Cash Pick Up Too

Mobikwik has announced partial payment for ticket reservation and cash pick up for bus tickets booking. With this launch, MobiKwik targets doing 25000 daily bus bookings by December 2016.

We are currently doing 4000 daily bus bookings and have already seen the service grow hundred percent in the past one month. This tremendous growth has encouraged us to look at bus booking as a separate revenue stream. With this focus, we have launched partial payment booking and cash pick up for bus tickets. – Upasana Taku, Mobikwik cofounder.

The overall bus booking segment is valued at Rs. 20,000 crores in India and online transactions contribute nearly 15 percent to this segment. The segment is growing and much of it is attributed to the booking through mobile apps. The private bus travel market is estimated at Rs. 17,000 crore and is expected to grow by 40% by 2018. The state-run bus travel market is estimated at Rs 44,000 crore and is expected to grow by 20% by 2018.

Meru Partners With Paytm And Mobikwik [Gives Users 4 E-Wallet Payment Options]

Meru Cabs has announced its partnership with Mobikwik and Paytm to offer customers more options for cashless travel, becoming the first Indian cab aggregator to partner with multiple e-wallets.

Meru Wallet Payment

The company now offers users 4 modes of cashless payment with its own My Wallet, e-wallet from Citrus and now Paytm and Mobikwik. Users can also pay via cash as they’ve always done at the end of a trip.

All users have to do is sign in with their preferred digital wallet service and click to pay at the end of a trip. Further, the company has also introduced a zero click payment system that automatically debits the amount from a user’s wallet upon completion of a trip.

The move was aimed at giving users the benefit of choice given that there are several digital wallet players in the market, it makes sense to integrate with as many of them.

As Ola and Uber pump in massive amounts of capital to ramp up their efforts in India, Meru is looking to offer users added benefits to stay in the game. With 70% of the company’s business being driven by the app, Meru is quickly upgrading its tech offering.

MobiKwik Ties Up With ICICI Bank To Let Users Load Cash Into Their E-Wallets

Mobile wallet company MobiKwik has announced its partnership with ICICI Bank to allow customers to recharge their digital wallets with cash at any of the Bank’s 4,000+ branches in the country.

mobikwik

The partnership will allow people without a bank account or access to net banking services to use MobiKwik’s digital wallet. It will also benefit other customers in providing them an alternative method of loading funds into their e-wallets.

How It Works?

MobiKwik has built a new feature called CashPay into its app in order to allow users to load physical money into their digital wallets.

MobiKwik-CashPay-1

In order to do so, users have to hit the CashPay option on the app and mention their name and the amount to be recharged into their wallets. Doing this will generate a unique order ID and provide the user with the location and contact details of the nearest ICICI Bank branch.

MobiKwik-CashPay-2

Users will be able to go to that ICICI bank branch or any other branch and use a regular cash deposit slip in order to recharge their MobiKwik wallets. CashPay is already up and running in the Delhi-NCR region and will be rolled out pan-India shortly.

Going Forward

There are 970 million mobile subscribers in India, but just 210 million bank account holders. MobiKwik believes that there’s massive potential for mobile based banking, while also helping those bank account holders that don’t utilize their credit/debit cards online to utilize its service.

The company recently raised $25 million from Tree Line Asia, Cisco Investments, American Express and Sequoia Capital, and plans to raise a further $100 million in the second half of 2015.

MobiKwik will use this capital to create an offline retail network of over 1 lakh merchants across India that will not only accept payments made through its wallet, but also act as points to allow users to load cash into their e-wallets.

Mobikwik Raises Close to $25mn In Series B From TreeLine Asia, Cisco, Amex And Sequoia

Mobikwik has raised close to $25 million in a Series B round led by Tree Line Asia. The other investors include Cisco Investments, American Express and the existing investor, Sequoia Capital. mobikwik
The funds will be used for investments in technology/data analytics, brand building and growing the network of users and merchants.
Mobikwik has over 15 million users and 25,000 merchants.
Retail Network
In 2015, MobiKwik has been focused on creating a pervasive brick-and-mortar retail network of more than 100,000 merchants across India. The brick and mortar retail stores will serve both as points for cash loading into the wallet and for wallet payments acceptance (for instance, partnership with CCD).
The company has also applied for a Payments Bank license in February 2015.

Now Pay At CCD Using Mobikwik Wallet [Payment Tech]

Now you can pay for your bill at a CCD outlet near you with MobiKwik wallet. Given the popularity of CCD among youth segment, this is certainly a big catch for Mobikwik.

CCD's Mobikwik Integration
CCD’s Mobikwik Integration
Also, as a starter, Mobikwik is also giving away 15% cashback on your bill when you pay with MobiKwik wallet at CCD.