Rs. 40,000 crore opportunity for digital payments in Smart Cities of India; the company aims to capture 15-20% share in FY 2017-18MobiKwik aims to capture a significant share of Rs. 3500 crore payments market for government services in KarnatakaUsers can seamlessly and securely pay for utility bills and taxes using MobiKwik
Bangalore; May 12, 2017: Mobile wallet major, MobiKwik, today announced the company’s partnership with Karnataka Mobile One and Bangalore one, a mobile application for facilitation of government-citizen engagement and collaboration, pioneered by the state under its smart cities efforts. The app will simplify the payment of government taxes and utility bills for over 66 million residents of the state. Users can also book railway tickets, apply for driving licences and filing income-tax returns on the application.
Vineet Singh, Chief Business Officer at MobiKwik said, “This association is another important milestone in line with our vision to make India digital. We support government’s smart cities mission and Digital India campaign and are glad to associate with Karnataka Mobile One to make Bangalore a less-cash city.”
The digital payment category overall has a 40,000 Crore opportunity of which apps like Karnataka Mobile One receives a market opportunity of Rs.3,500 Crore. Karnataka Mobile One will provide MobiKwik a strong presence and platform from the business point of view. MobiKwik also recently opened its office in Bangalore. “We aim to double our business in Bangalore by early 2018.” Singh added.
MobiKwik has over 55 million plus users on its platform and currently powers payments for IRCTC, NHAI, GSRTC, Meru Cabs, Big Bazaar, MakeMyTrip, OYO Rooms, Zomato, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Dominos, Burger King, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Barista, Food Panda, Nearbuy, Van Heusen, Allen Solly among others.
MobiKwik is an Indian wallet major with a network of more than 15 lakh direct merchants and over 55 million plus users. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised three rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway, Cisco Investments and Net1.
MobiKwik aspires to be the largest source of digital transactions in India. It is powering e-payments for IRCTC, Uber, Meru Cabs, Big Bazaar, OYO Rooms, Zomato, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Dominos, Burger King, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Barista, Food Panda, Nearbuy, Van Heusen, Allen Solly, Louis Phillips, GoDaddy, MakeMyTrip.