Yesterday morning, a source informed us that the Mobikwik Lite application stopped allowing users to accept money: After you entered the customers mobile number, to solicit payment, a user got the message that said: "Transaction Status; This feature is currently disabled"(screenshot). We checked and this was true. This had been a key feature of the rollout of the Mobikwik Lite service, as had withdrawal options: the company had integrated other wallets (Payzapp, Oxigen and Pockets), as well as as the Unified Payments Interface (UPI). It used Mobikwik's payment gateway Zaakpay to accept payments. When a merchant received money from someone, they would get a link, which has all the options for withdrawal, including, according to Upasana Taku, co-founder of Mobikwik, then, the option to withdraw to other wallets. On being contacted, Taku asked us to download the application again (the auto-updates, we found out, were not enabled for the version of the application available when the press conference was held), because the changes were reflected in the new application. The updated application works differently We noticed a couple of changes from what was announced on the 28th: The updated application uses only the Mobikwik Wallet for person-to-person payments. Non-merchants cannot accept card payments, and there's a tab which is meant only for card payments, and available only to registered merchants. The user was supposed to be given alternative options for withdrawal, and not just the Mobikwik wallet. There is now a clear distinction between Merchants and non-Merchants: If you want to accept card payments, you'll need to…
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