India Mobile Payment is beening discussed hotly always ,Recently, the Gurgaon mobile wallet company MobiKwik received 2.25 billion rupees (about 35.4 million US dollars) of financing, investors, including non-bank financial institutions Bajaj Finance. After the current round of financing, Bajaj will receive about 10.83% stake in MobiKwik.
After this strategic partnership, MobiKwik's electronic wallet will provide consumers with credit services so that they can make real-time shopping payments by scanning the QR code on mobile phone.
The company, founded by Bipin Preet Singh and Upasana Taku in 2009, has 1.5 million direct co-shops with 55 million subscribers. Paytm, known as the "Indian Alipay", has been funded by Alibaba and Softbank, which is a direct competitor to MobiKwik.
After depositing money into an electronic wallet, the user can purchase the product or service through an application, webpage, mobile website, SMS or phone call. You can use it for mobile phones, television, data cards, broadband, fixed telephone to pay, in addition to pay electricity, petrol and insurance premiums.
Currently MobiKwik has been in the web side, Windows system, Andrews platform and iOS platform launched the application by different barcode scanner ,which produced from Shenzhen Rakinda Technology Company in China.
Last August, Net1 UEPS Technologies invested $ 100 million in MobiKwik. Prior to the Japanese payment gateway company GMO and semiconductor company Mediatek jointly led the company 50 million US dollars of the C round of financing. Prior to these two rounds of financing, MobiKwik also received $ 6.9 million for Sequoia Capital and Tree Line Asia. Other investors in the company also include US Transit and Cisco Investments.
Currently MobiKwik has offices in New Delhi, Mumbai, Bangalore, Pune and Calcutta.
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