MobiKwik has launched a one-step offline payments mode, called Bubble Pin. This pin is generated on the MobiKwik app when a user clicks on the ‘Pay at store’, and it is valid for 60 seconds. The pin is a combination of alphabets and numbers. To make a payment, the user needs to share this pin with the retailer. The company claims that Bubble pin is designed to make transaction more secure, considering that no phone number needs to be shared. Users can soon use this functionality in over 25,000 offline stores across India.
Speaking on the announcement, Mrinal Sinha, Chief Operating Officer at MobiKwik said, “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.”
“With an aim to make payments with MobiKwik ubiquitous, we are focusing on the expansion of our offline payments network and such initiatives shall help us convert cash users into e-cash users,” he added.
MobiKwik says that Bubble Pin is the first step in enabling users to go completely cashless, especially at places that have sporadic cell reception.
MobiKwik and Paytm started supporting KYC in June this year, which allows the digital wallet limit to reach Rs 1 lakh a month by verifying the customers details. Before KYC, RBI had limited the amount to Rs 10,000 for digital wallets.