It is creating an offline retail network of more than 100,000 merchants that will serve both, as points for cash loading into the wallet and for wallet payments acceptance.
Payment service provider MobiKwik is synced into the eco-system of India’s top two hospitality start-ups – Zomato and OYO Rooms.
“Cumulative research indicates that online platforms will occupy 15-20% of the total spend of the Indian economy by 2020. Our tie-ups with category leaders such as OYO Rooms and Zomato positions us well to leverage that wave,” said Bipin Preet Singh, CEO, MobiKwik.
“Our focus at Zomato is to create a seamless experience for our customers. Integrating the MobiKwik wallet as another payment mechanism adds to ensuring a delightful experience for our customers. Customers can now make completely cashless payments using the MobiKwik wallet when using Zomato to order from a large number of restaurants in India,” said Tanmay Saksena, global business head, Zomato Order.
Other popular HORECA brands currently using MobiKwik include Café Coffee Day, Domino’s and Pizza Hut. MobiKwik has so far raised close to USD 30 million in funding till now from Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments. It plans to raise another USD 100 million this year. MobiKwik strategy is to create an offline retail network of more than 100,000 merchants across India that will serve both, as points for cash loading into the wallet and for wallet payments acceptance.
