With its latest offering,
Not just that, Mobikwik ‘lite’ is claiming to be India’s lightest mobile wallet only taking up 700 kb on your phone. This app can prove to be a gamechanger after demonetization, for a majority of Indians who might have a basic smartphone but not an email address.
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“Currently working with 2G or even Edge connectivity,
Mrinal Sinha, COO, Mobikwik said, “After demonetization, we realized that we wanted to get as many people online as possible, from merchants to consumers. This move is to make digital payments through internet or SMS available to all. In theory, this will disrupt the market as it could replace POS devices.''
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“80% of our e-commerce partnerships are profitable even after the cashback. Recharge and bills are breakevens for us,” claims Singh.
Maybe, partnering with other e-wallets makes sense on the way to profitability in the newly digitized market.
Whether it is going to be survival of the fittest or the lightest, only acquisitions will tell.