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MobiKwik’s Bubble Pin lets users make offline payments in low connectivity

cmn mobikwik

Digital payments company MobiKwik has a new feature for offline payments called Bubble Pin, which will allow users to make wallet transactions at stores where there is low or no connectivity to data networks. MobiKwik says that this new feature will be available to 25,000 stores in the coming months.

Bubble Pin generates a PIN which can be shared with the store merchant in case low connectivity. The PIN, a combination of letters and numbers, is generated on the MobiKwik app offline itself. The store merchant then enters the PIN into a software and enters in the bill amount. Note that the PIN is valid only for 60 seconds and beyond that, a user can generate another PIN.

The payment will be deducted from the wallet once the user is back in areas of better connectivity. However, a spokesperson for MobiKwik said that store merchants will have to ensure that the store is connected to the Internet to enter the bill amount and process the payment and it cannot process the payment offline.

Note that MobiKwik claimed to have processed 500,000 transactions from August- September 2015, amounting to over Rs 60 crore. Out of the half a million, 100,000 transactions were processed across 260 Big Bazaar outlets in the country. The top 5 cities for offline payments were Mumbai, Bangalore, Kolkata, Hyderabad and Delhi.

MobiKwik Nearby: In March, the wallet launched an ‘Explore Nearby’ feature on its app, which lets users discover neighbourhood stores, restaurants, cafes etc., that accept payments from the company. At the time, the company mentioned that it had over 10,000 partner stores including merchants like Big Bazaar, Domino’s, Barista, Archies etc.

Funding: Last month, Net1, a South African payment systems company, invested $40 million in MobiKiwk. With this deal, the company would be integrating Net1’s virtual card technology across all its wallets and extend its wallet services to all merchants. The company said that it will be using the funding to scale up in India and grow to a user base above 150 million and sign on 500,000 merchants.

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