Mobikwik launches new version of its mobile wallet app

In a bid to reach 150 million users by 2018,  Mobile Payment startup MobiKwik, on Tuesday, launched a new light-weight version of its mobile wallet app. The new app is aimed at bringing onboard the mobile internet users, who have poor connectivity or are still using 2G connections.

With its new avatar, Mobikwik also aims to bring together its vast ecosystem of online and offline retailers, who accept payments from MobiKwik. According to the company, more than 25,000 retail stores, cafes and restaurants accept MobiKwik payments at present, in addition to the 100,000 online websites and apps that have integrated MobiKwik for digital payments.

 

Mobikwik, which has 32 million users currently, has sharpened its focus on features such as bus booking, recharge, utility bills payments  among other things in its new version. The company is now looking to bring various financial services for its users.

?"In addition to the new app launch, we aim to make our mobile wallet the gateway for Indian masses to access financial services such as insurance, credit and loans. This will create more stickiness for the users towards Mobikwik and will help increase per user transactions. Our vision is to have users pay, invest, borrow and save all using MobiKwik.” said Upasana Taku, Co-Founder, MobiKwik. 

The new app, which is 5 MB in size, can work seamlessly in 2G connections, the company said.  This will help Mobikwik tap users in tier 2, tier 3 cities.

“Being the lightest app in India, users with a 2G connection or those who are using older phones with limited RAM, can also download MobiKwik within a minute. This will help more users in the interiors of our country to use our wallet, go cashless and avail other offers," Taku said. 

Moreover, MobiKwik, which has exclusive tie ups with partners such as Big Bazaar, Barista, Archies, Domino's Pizza, 98.4, Himalaya, Indian Oil and HP petrol pumps, Sagar Ratna and Bercos restaurants among others, said the new app can use users' location to throw up relevant offers for nearby offline stores.