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Mobikwik wallet users can now load cash at ICICI Bank branches

Mobile wallet and recharge platform Mobikwik has tied-up with ICICI Bank to allow its wallet users to add cash at any ICICI Bank branch. This service is currently live in Delhi-NCR and the company said it'll be extended to other cities in India soon, though no specific date has been mentioned. For this service Mobikwik had added a new feature to its app called CashPay. In order to load cash to the wallet, users need to select CashPay on the app and enter the amount and their name. An unique Order ID will be generated by the app, and it'll also provide users with contact details of the nearest ICICI Bank branches. At the branch, users can use the regular cash deposit slip to add cash to their wallets. This move is likely to help Mobikwik reach out to users who're still wary of net banking and using their credit/debit cards online. On the other hand, if other mobile wallet service providers such as Paytm, Oxigen and Citrus also tie-up with banks for similar offline cash loading services, it's likely to give the e-commerce segment in India a fillip. Paytm claims to have over 20 million wallet users and Oxigen claims to have over 3 million wallet users. It also needs to be mentioned that the number of credit card users in the country are quite low and the number of debit card users are increasing, but still on the lower end. As of March 2015, there are 21.1 million credit cards…

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