 "MobiKwik eyes Rs 800 cr monthly GMV")
Mobile wallet company MobiKwik has said it expects monthly gross merchandise volume (GMV) to touch Rs 700-800 crore over the next 12 months, with half of it from offline channels like mom-and-pop stores and restaurants.
The company, which has 10,000 offline merchants as partners, is also looking at aggressively expanding the base to 100,000 in the same period. “Overall, we expect the monthly gross merchandise value (GMV) to be about Rs 700-800 crore in the next 12 months.
Of this, about Rs 400 crore will come from offline partners,” MobiKwik founder and chief executive officer Bipin Preet Singh told PTI on Wednesday.
He added the company had enabled 500,000 mobile payments in the offline space in about three months.
GMV is a term used in online retailing to indicate the gross merchandise value of the products sold through the marketplace over a certain period of time.
“The aim is to grow this over 10X and take it to 50,00,000 a month in the next 12 months. While the 500,000transactions in 3 months amounted to Rs 60 crore, we expect that over the next 12 months, the monthly GMV will touch Rs 400 crore with five million transactions a month," he said.
MobiKwik has partnered Big Bazaar, WHSmith India, Café Coffee Day and Store King in the offline space.
The average ticket size of transactions is between Rs 1,000 and Rs 1,200. This is expected to come down to about Rs 800 as more mom-and-pop stores get added. Singh said the top five cities for offline mobile payments for the company were Mumbai, Bengaluru, Kolkata, Hyderabad, and Delhi.
