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MobiKwik Launches Cash Pickup Facility in Delhi NCR

MobiKwik Launches Cash Pickup Facility in Delhi-NCR

By NDTV Correspondent | Updated: 31 July 2015 12:52 IST

Mobile wallet company MobiKwik on Thursday launched its "Cash Pickup" service, a facility that allows cash to be directly added to MobiKwik wallet.

The service, which will soon be launched across all major cities in India, is currently available in Delhi-NCR area.

"Mobile technology is redefining how money works in India and how it exchanges hands. Our new and extremely easy to use cash pickup service, is the kind of innovation that reflects our drive to connect the world of offline to online," said MobiKwik founder-CEO Bipin Preet Singh.

"With this we are literally taking the bank to the user's doorstep and making it possible for millions of new users to start making digital transactions. MobiKwik's 'Cash Pickup' feature is completely aligned with our goal of creating 150 million digitally paying users," he added.

Cash pickup allows anywhere from Rs.100 to Rs.10,000 to be added to user's MobiKwik wallet in real time, the company said.

"The users can then make payments across diverse use cases such as recharge, bills, food, travel & cabs, shopping, entertainment, money transfer," it added.

MobiKwik recently raised close to $25 million (roughly Rs. 160 crores) in a Series B round from Sequoia Capital, American Express, Cisco Investments, and Tree Line Asia. The company plans to raise another $80- $100 million (roughly Rs. 512 - Rs. 640 crores) in 2015.

Earlier this month, MobiKwik partnered with Uber India, which had re-introduced card payments for Indian users. The tie-up will enable Uber to use MobiKwik for powering its new credit and debit card payments from customers.

Written with inputs from IANS

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