Gurgaon-based One MobiKwik Systems Pvt Ltd that runs the online recharge platform Mobikwik.com has partnered with online bus ticketing site redBus to enable users to pay for ticket reservations directly from MobiKwik mobile wallet. The firm is also offering 5 per cent cash back on every transaction done using the wallet.
"We are looking to help merchants boost the shopping experience, especially on mobile. The MobiKwik wallet is designed to deliver a fast checkout experience, irrespective of the merchant or channel," said Bipin Preet Singh, founder and CEO, MobiKwik.
Started in 2009, MobiKwik enables prepaid mobile, DTH and data card recharges, post-paid mobile bills payment and utility bill payment for electricity, gas and landline connections. It also offers these services via SMS, phone and apps that are available for Android, iOS and Java platforms.
Its mobile wallet allows users to add money to a prepaid wallet through net banking, credit card or debit card, post that they can use it for multiple transactions. Customers can store up to Rs 50,000 in the wallet at a time and use it to purchase goods and services on third-party merchant websites and mobile applications.
The company recently added a new feature to its mobile wallet that enables its customers to transfer cash offline and deposit in their wallet, instead of transferring the amount online from their bank accounts.
MobiKwik claims that it serves clients across verticals including entertainment, travel, dining, food, digital goods, shopping, gaming and donations. Headquartered in Gurgaon, the company is now planning to open a sales and marketing office Bangalore. Other mobile wallet companies in India include Paytm (One97 Communications), Beam Money and QuikWallet.
Founded in 2006, redBus is an online bus ticketing platform, which was acquired by South African media conglomerate Naspers Group in June last year, in a deal worth $100 million. As of July last year, redBus.in aggregated around 228,000 seats per day, sold more than a million tickets a month and had 600 full-time employees. The core business model of redBus is based on commission revenues on successful transactions.
(Edited by Joby Puthuparampil Johnson)