MobiKwik launches Mobile Money Transfer Service

26th August 2014 | By Mouseworld Now Correspondent |

MobiKwik Cofounder and Head- Business Developement & Merchant Operations Upasana TakuNew Delhi, India, 26th August 2014: A leading Indian mobile wallet service, MobiKwik, is witnessing increasing adoption in its new wallet-to-wallet (W2W) money transfer service with more than 1.5 Lakh money transfers taking place in the last two months.

The new W2W service, which was launched on June 20, allows MobiKwik’s eight million registered users to make digital and mobile money transfers direct to consumers in one simple click.

MobiKwik Cofounder and Head- Business Developement & Merchant Operations Upasana Taku said “As acceptance of online payments and mobile wallet usage grows, Indian consumers are looking for simpler ways to make electronic transfers. “

“This new feature gives consumers the convenient option of paying anyone at any time, from anywhere in a highly secure manner,” added Upasana Taku.

The new W2W service also includes a unique ‘Request Money’ feature which provides users a simple method of alerting others of any pending payments.
“Transfers as little as Rs. 1 or as high as Rs. 5,000 can be made in a single transfer – to date we have seen approximately Rs. 1 Crore exchanged via the service. People are utilising the W2W feature for various reasons however some regular transactions we are seeing include people splitting bills, students and working professionals transferring money for bill payments, and friends exchanging money for group gift purchases.”

To ensure the security of the W2W service a One Time Password (OTP) is generated before each wallet money transfer is made.

Mobikwik releases an updated version of the MobiKwik app every 15 days. MobiKwik also runs various promotions with its 700 strong online commercial partner base which includes Book My Show, eBay, Domino’s, RedBus, and FashionAndYou.

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