Payments company Mobikwik has launched UPI-based payments on its platform, becoming the latest mobile wallet to add the interoperable payment service. Mobikwik users will now be able to make and receive payments via their @ikwik Virtual Payments Address (VPA). Mobikwik’s addition of UPI doesn’t come as a surprise because mobile wallets, like the one run by Mobikwik, have seen a decline in usage over the past month as RBI’s stricter KYC norms have come into effect. At first glance, Mobikwik’s UPI application seems simple to use and interoperability doesn’t seem to be an issue. Users can send and receive payments from other UPI IDs. Both online and offline merchant payment options are present and so is support for BharatQR, as mandated recently by the National Payments Corporation of India. The app supposedly offers UPI access to the 3 million merchants…
