India gets a mobile wallet from MobiKwik

Oct. 26, 2012

It's not just the U.S. market that is gaining a host of new mobile wallet players; the phenomenon is popping up worldwide. Indian e-wallet company MobiKwik announced it has launched a mobile-optimized website with a user interface that turns its online bill payment service into a de facto mobile wallet for users in that country.

India is a ripe market for mobile payments. It has more than 945 million mobile-phone subscribers

With MobiKwik's approach, India's wireless subscribers can use their devices to pay bills and top-up mobile accounts. The company has more than 1.2 million customers already, but said it expects adding mobile functionality will increase that number by 30 percent.

"With mobile browsing and usage on the rise, a mobile optimized website can raise consumer engagement by 85 percent," said Bipin Preet Singh, MobiKwik's CEO and founder. "MobiKwik's mobile website is intrinsic to our strategy to engage with users and increase sales."

MobiKwik was launched in 2009 to leverage mobile devices to pay utility bills and to shop online using a mobile wallet. Customers can use the service to purchase recharge vouchers, SMS packs, tariff vouchers and other products from leading mobile operators, the company said. MobiKwik has become the largest recharge site for a number of wireless carriers, including Airtel, Vodafone, Virgin Mobile and Tata Docomo.

For more stories like this, visit the mobile/virtual wallet research center.

Topics: Bill Payment , In-application Billing , Mobile Banking , Mobile/Digital Wallet , Region: EMEA

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