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BSNL MobiKwik Mobile Wallet Clocks Over Rs. 1 Crore GMV in 45 Days

BSNL-MobiKwik Mobile Wallet Clocks Over Rs. 1 Crore GMV in 45 Days

By Press Trust of India | Updated: 9 October 2017 18:27 IST

Highlights

BSNL tied up with MobiKwik to launch a co-branded mobile wallet
Within 45 days, it has registered transactions over Rs. 1 crore
It's the largest wallet by any telecom company in India

State-run telecom operator BSNL and digital payments firm MobiKwik's co-branded mobile wallet
has registered transactions worth over Rs. 1 crores within 45 days of its launch.
The companies expect a 10-fold growth in gross merchandise value (GMV) in the next 12 months, according to a statement.

"...the co-branded wallet has registered over Rs. 10 million GMV within the first 45 days of launch," it said.
The wallet was launched in August by Telecom Minister Manoj Sinha. With over 1.5 million merchants on its network, the BSNL Wallet is largest wallet by any telecom company in
the country.

The wallet enables online recharges, bill payments, shopping and bus ticket booking.
"BSNL-MobiKwik wallet is an initiative to include semi-urban and rural India into the digital payments economy. We are enthralled by the initial response received, and hope to have 10-fold growth in GMV within the next 12 months," BSNL Chairman and MD Anupam Shrivastava said.

GMV is used in online retailing to indicate total sales value for merchandise or services sold through a marketplace over a period of time. Bipin Preet Singh, founder and CEO of MobiKwik said the wallet's vision is to empower Indians with easy access to digital payments and financial services.

"This milestone further strengthens our belief in masses' disposition towards digital payments," he added.

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