Mobile wallet service provider Mobikwik has partnered with loyalty program provider Payback, which will enable MobiKwik users to earn loyalty points during transactions, and Payback users to redeem their points on MobiKwik to make purchases.
MobiKwik’s customers will receive Payback loyalty benefits on transactions, which can then be used on MobiKwik itself or on various other Payback partners in verticals including food to travel, entertainment, and financial services. Similarly Payback users can redeem their points for utility bill payments, payment at coffee shops and for recharging phones or DTH. 200 Payback points will be offered to users on signing up with MobiKwik, post which points will be earned on every transaction of Rs 200 or more.
Payback currently claims to have over 30 million customers, although we wonder how many of these are active, or even know they are a member. Meanwhile MobiKwik claims to have over 15 million customers. Overall, this partnership should benefit both sides, giving MobiKwik access to Payback’s large customer base, while providing the archaic Payback an online presence.
CCD tie up: In a push for greater offline impact, MobiKwik had tied up with Cafe Coffee Day to allow customers to pay their CCD bill using the MobiKwik wallet earlier this month. The company even threw in a 15% cashback on a CCD bill of food and beverages, limited to a maximum of Rs 200.
Mobikwik, which claims it processes 300,000 transactions every day, had 10 million wallet users as of December last year. At the time, 7 million of them were on mobile. The company had also claimed that it’s adding about 30,000 new wallet users on a daily basis. However, Mobikwik didn’t disclose the number of active mobile wallet users, but said that 80% of the active users are on the mobile app and 20% active users are on desktop & SMS.
During the Google Online Shopping Festival (GOSF) in November last year, 35% of Mobikwik’s transactions were on mobile. However, it’s worth noting that 55% of Mobikwik’s overall revenues still comes from mobile recharges. As of December last year, DTH recharges account for 10%, utilities bill payments account for 10%, online shopping using the Mobikwik wallet accounts for 20% & ticket bookings account for 5% of Mobikwik’s business.
Mobikwik, which first started integrating its mobile wallet with e-commerce platforms in June last year, currently has tie-ups with over 20,000 e-commerce platforms including eBay, Snapdeal, redBus, BookMyShow, Domino’s Pizza, Pepperfry, JustEat, and TastyKhana among others, and claims to process 12 million transactions a month. Mobikwik had partnered with Jabong last month to enable mobile payment services on Jabong letting the latter’s customers avail discounts when paying through Mobikwik.