EXCLUSIVE: Mobikwik is willing to partner with other e-wallets like Paytm
With its latest offering,Mobikwik doesn’t want to limit you to pay or receive
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.
ALSO READ: EXCLUSIVE: Inside Paytm, the first 24 hours after demonetization
“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.''
The completely offline app is expected to launch in 10 days. E-commerce partnerships have been doing really well for the company, as it moves towards its goal of becoming profitable by mid-2018.
“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.
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