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MobiKwik Starts Cash Pickup Service

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The service is currently available in Delhi-NCR and will soon be launched in major cities all across India

For the next level of growth, mobile payment company MobiKwik is looking at capturing the segment of people who use smartphones for browsing but don’t transact digitally. 
 
“From the 250 million people in India who use smartphones, only 35 million use digital modes of payment. As a wallet company we want to fill in this gap and make it easy for these people to pay for transactions through the wallet,” says Upasana Taku, co-founder of MobiKwik. 
 
To reach to these customers, MobiKwik has introduced ‘cash pick up’ service, a facility that allows cash to be directly added to MobiKwik wallet. 
 
“No other online payment company in the world has a cash pickup service to add money to the wallet,” shares Taku. 
 
The service is currently available in Delhi-NCR and will soon be launched in major cities all across India.  
 
Cash pickup allows anywhere from Rs 100 to Rs 10,000 to be added to user’s MobiKwik wallet in real time. The company assures that the representatives reach within 30 minutes of submitting the request and update their wallet with cash immediately. The users can make payments across diverse use cases such as recharge, bills, food, travel & cabs, shopping, entertainment, money transfer, etc.
 
What is interesting is the user gets to view on the app the name and photograph of the agent responsible for the pickup. It’s mandatory for all MobiKwik agents to be dressed in uniform, which further helps in identification. To ensure safety of the users’ money, the process of cash pickup is OTP protected.
 
MobiKwik is focussing on creating an offline retail network of 1,00,000 vendors which will serve both as points for cash loading into the wallet and for wallet payments acceptance. For this, the company has already tied up with bigwigs such as ICICI Bank, Big Bazaar, PVR Cinemas, Café Coffee Day and WHSmith India. 
 
The aim of the company, shares Taku, is to make it easy for people to pay for things that they require frequently, such as, ordering food, buying movie tickets, paying for cabs and buses. Taku shares, this will help consumers not only in paying their bills but also in exchanging purchased goods. This way, companies instead of using a cheque to refund the money can add the amount into the consumer’s wallet. 
 
MobiKwik, recently raised $25 million 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 in 2015. 
 


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