wordpress blog stats
Connect with us

Hi, what are you looking for?

MobiKwik Launches CashPay; Online Recharge Via Cash Payments

MobiKwik, which offers an online mobile & DTH recharge service, along with a closed wallet system, MobiKwik Balance, integrated with the service, has now introduced CashPay, a service that will allow users to pay for recharges in cash. Essentially, the service will allow users to load their MobiKwik wallet with cash instead of paying via Credit or Debit cards or Net Banking.

They will be able to top-up with any amount in the range of Rs 500 to Rs 2000. The cash will be collected physically from the users’ premises at no additional cost, according to the company and will reflect in their online wallet within a few minutes. The same amount can then be used for recharging Mobile and DTH accounts, and also for purchasing apps from MobiKwik’s recently launched app store.

MobiKwik Co-founder, Upasana Taku, informed MediaNama that the company has tied up with two leading providers for enabling cash collection across all major Indian cities. The company is not charging extra for the service. It also plans to extend it to its IVR based recharge service, in the near future.

On being asked if it would be feasible for the company to not pass on the cost to the user, she responded, that the company will be absorbing the cost in order to drive user adoption and pull-in new users. She added that MobiKwik had stopped charging a convenience charge since September 2011, since users did not wish to pay extra for online recharge and till the market evolves, it did not intend to levy it.

Upasana claims that about 40% of MobiKwik’s users retain a balance in their wallets, which was significantly more than what they usually do on competing platforms. She said that offering Coupons was no big a deal, and the company has managed to tie-up with various companies including Cleartrip, ibibo, IndiaPlaza and others within a month of launching the feature. She added that companies infact look for distribution platforms for discount coupons. MobiKwik does not charge extra for coupons, and customers can opt to get all the coupons on offer even if they transact for Rs 50.

The mobile wallet functionality decreases the instances of failed transactions, which is the primary pain point for online ecommerce services. Big ecommerce players like Flipkart have also introduced a closed wallet but have not extended cash collections for the same. PayTM*, which is one of MobiKwik’s competitor also offers a wallet storing money from refunds or promotions, but doesn’t allow users to load cash. Doorstep cash collection looks like a good incentive for customers to use the service, but it all depends on the efficiency of the entire process, and on building user trust, at the end of the day. Offering cash backs and rewards can also help in driving repeat usage.

Advertisement. Scroll to continue reading.

In addition to PayTM, MobiKwik also competes with other online services such as Rechargeitnow and Freecharge.in, which had recently raised Rs 20 crore from Sequoia Capital India.

*Disclosure: Paytm is an advertiser with MediaNama

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

News

Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ