MobiKwik has announced the launch of UPI (Unified Payments Interface) on its platform. MobiKwik users can now put cash in their wallet with e-cash using UPI. UPI allows users to transfer money across different banks via single identification and password. The company already has options of netbanking, credit and debit card as well as exclusive cash pick up and cash deposit service for wallet loading. “MobiKwik users now have an additional option for real time wallet loading with UPI. Users can use their MobiKwik e-cash at over 100000 online and offline merchants across India,” Mrinal Sinha, Chief Operating Officer at MobiKwik said.
MobiKwik claims users can get their cash picked up to load in their wallets within 25 minutes in major Indian cities. Customers first need to request for cash pick up on the app, following which a company representative will reach their location to help with cash loading. Mobikwik has a cash deposit facility as well. MobiKwik has tie-ups with around 10,0000 merchants including Myntra, Shopclues, Big Bazaar, Big Basket and Grofers, MakemyTrip and OYO rooms.
MobiKwik recently unveiled one-step offline payments with ‘Bubble Pin’. This pin can be generated on the MobiKwik app by clicking on ‘Pay at store’ and is valid for 60 seconds. MobiKwik user needs to share this pin with the merchant to make payments. The pin is a combination of numbers and alphabets. “With this feature, we are offering the scope of making digital payments to users with slow data connections. Additionally, payment with MobiKwik is now possible at basements, parking lots and even in a flying airline, where the data network reception is not available or is intermittent,” Sinha said.