people-free

MobiKwik and Truecaller have partnered to let Truecaller users get an account on MobiKwik just by virtue of being on Truecaller. According to the company statement, the tie up is already accounting for 30% of daily signs ups on the MobiKwik app. MobiKwik claims to have digital payments at 100,000 merchants and 32 million users. The digital wallet is usable with Jugnoo for autorickshaw rides and Xiaomi for instant mobile and DTH recharges.

Competitor Paytm claims to have over 100 million users, while Freecharge wallet over 10 million.

About a month ago, Truecaller claimed that its 100 million Indian users were making over 500 million calls monthly through its app, 4 months after it launched the dialer function. In March this year, Truecaller said that it would display availability (online/offline) status of contacts, call history feature that replaced unknown numbers with names and a built-in dialer that allowed users to make calls directly from the Truecaller app.

Truecaller on devices:

Truecaller also partnered with Huawei to preload the Truecaller app in Huawei’s flagship devices starting with Honor 8. In May 2015, Cyanogen had partnered with Truecaller to make the caller ID and blocking service app as its default native dialer app. In December 2015, Truecaller partnered with Intex to integrate Truecaller and Truedialer in its Aqua Young smartphone devices.

MobiKwik funding:

Overall, MobiKwik has raised $126.85 million. Last month, MobiKwik raised $40 million from Net1, a South African payment systems company to integrate Net1’s virtual card technology across its wallet, growing its user base and sign up 500,000 merchants. In May, it raised $50 million in a series C round led by Japan’s GMO Payment Gateway. In April last year, MobiKwik raised ~$25 million in Series B funding.

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.

Offline transactions: In October 2015, MobiKwik claimed to have processed 500,000 transactions from August- September 2015, amounting to over Rs 60 crore.

Also read:

– MobiKwik’s Bubble Pin lets users make offline payments in low connectivity
– Xiaomi’s payments service Mi Pay can be used for public transport
– Prepaid card transactions declined 11.2%; mobile wallets up 16.5% in June 2016
– Facebook’s Messenger bots will have in-app payments