Mobikwik, the 2009-incorporated company is planning to report its first quarterly profit in March, and will be profitable from a full year perspective from FY21
Tech giant Google on Thursday said it has partnered with bullion refiner MMTC-PAMP India to allow Google Pay users to buy and sell gold through the app, a service that is already offered by the likes of Paytm, Mobikwik and PhonePe
E-wallet companies were caught in a bind over looming deadline that was to end on 28 February
The company, which competes with mobile wallet players like Paytm, had posted a total consolidated loss of Rs 132.8 crore in 2016-17
Digital wallets can now use a state-backed payments network that makes peer-to-peer payments instant.
MobiKwik said it would be investing $15 million (approximately Rs 112 crore) over the next year.
In July, IndiGo had put on sale 1.2 million seats at heavily discounted starting fares of Rs 1,212 under a similar offer.
Mobile wallet companies witness spike in digital transactions amidst cash shortage in ATMs and banks
A PhonePe spokesperson said the current cash shortage has led to a further spike in digital transactions on its platform.
Mobile wallet companies including Paytm, Mobikwik and Flipkart-owned PhonePe on Wednesday said they have seen a significant jump in digital transactions amid a recent currency shortage at ATMs and banks in some parts of the country
Digital wallet payments: RBI's refusal to extend 28 Feb deadline may lead to Rs 12,000 cr loss for sector
The central bank RBI, however, clarified that customers who have balances in such wallets or PPIs need not worry about their money
WhatsApp digital payments: Paytm's Vijay Shekhar Sharma cries foul, alleges Facebook arm-twisted UPI
WhatsApp, which has over 230 million users in India, has started testing payments through its platform in the country. India is the largest market for the messaging app.
WhatsApp Payments: Messaging app may turn heat on mobile wallet players, but game has shifted to value-added deals
What Facebook-controlled WhatsApp can do, however, is to possibly look deeper into your behaviour than other mobile wallet players like MobiKwik, PayTm etc
MobiKwik users can now book Reliance Jio Phone within seconds. The process is as simple as recharging their phone numbers, the company added.
MobiKwik has ploughed-in $2.5 million (roughly Rs. 16 crores) for launching a business to business (B2B) product
The first 100 percent cash back from Jio is in the form of vouchers which is worth Rs 50. Therefore, the user will receive 8 vouchers on the MyJio app.
In August last year, Bajaj Finance had entered into a subscription agreement with One MobiKwik Systems to acquire 10.83 percent stake for about Rs 225 crore.
The expected WhatsApp payment system would be an in-chat payment system; where the user would be able to see a Rupee symbol. This symbol would be present in the attachment section alongwith location, contact, and pictures.
"I am excited to join MobiKwik Payment Gateway at a time when mobile digital payments are at an inflection point," said Rukaiya Rangwala.
Mobile wallet companies like Paytm and MobiKwik have also seen manifold growth in transactions as well as new users coming on board.
"To avail the cash-back, all a consumer has to do is make the payment from Mobikwik's website or mobile app," a BSES statement here said.