MobiKwik Partners Offline Retailer WHSmith India enable mobile payments

Online payment wallet MobiKwik has partnered with WHSmith India to enable digital payments at its offline outlets, the company announced today.

Founded in 2009, MobiKwik provides a payment wallet that currently enables 17 million users to transact with 50,000 retailers. It is currently focusing on expanding its offline presence, most recently tying up with BigBazaar and Cafe Coffee Day.

"We are proud to play a leading role in mainstreaming mobile wallets in India by making them accessible at offline outlets. Mobile payment has considerable potential to disrupt Indian retail and we aim to create many more such partnerships for mobile wallets to replace cash and cards," said founder and CEO Bipin Preet Singh. According to a recent report by Motilal Oswal, mobile wallet usage in 2015 grew 200% from last year to reach 3 crore, and is set to reach 15 crore by 2019.

Under this partnership, each WHSmith store will act as a "MobiKiwk Node" where users can not only pay for their purchases but also load money on their wallets. MobiKwik envisions that in the future, local kirana stores would accept payments with MobiKwik wallets, where the retailers' smartphones function as POS machines. According to MobiKwik, only 0.7 million out of 30-40 million SMEs in India accept electronic payments.


"Mobile wallets are the next big game changers in the payments space and offers great possibilities for retail in India. They fasten the payment process as well as make it more convenient and secure," said Arun Barathi, CEO of TNSI Retail Pvt Ltd, WHSmith's franchisee in India. WHSmith is the largest bookseller and newsagent in the UK and currently has 55 stores in Delhi and Mumbai.



 

Share this:
Tags:

About Jessica Priston

Ut tellus dolor, dapibus eget, elementum vel, cursus eleifend, elit. Aenean auctor wisi et urna. Aliquam erat volutpat. Duis ac turpis. Integer rutrum ante eu lacus. Vestibulum libero nisl, porta vel, scelerisque eget, malesuada at, neque. Vivamus eget nibh. Etiam cursus leo vel metus. Nulla facilisi. Aenean nec eros.

  • Website
  • Google+
  • Rss
  • Pinterest
  • Instagram
  • LinkedIn
  • Vimeo
  • Youtube
  • Flickr
  • Email

Related News

  • Cashback site Cashkaro now offers restaurant discounts

    India’s e-commerce market looks large and lucrative enough from the outside, but insiders know it is very challenging. In fact, the number of e-commerce sites and businesses is growing so fast here today that the competition is cut-throat. This

  • What is Viscose Material? Advantage and disadvantage of viscose.

    Viscose is a unique form of wood cellulose acetate used in the nnmanufacture of a number of different products. This includes items for nnthe medical industry, though it is perhaps most common as a major nningredient in the production of the fabric r

  • Honda launches new CBR 250R bike
    Honda launches new CBR 250R bike
    July 01, 2014 5:50 am

    New Delhi: Honda Motorcycle & Scooter India (HMSI) launched a new edition of its global sports performance bike CBR 250R priced between Rs 1.56 lakh and Rs 1.86 lakh (ex-showroom Delhi). The 2013 edition CBR 250R is available for sale across a

  • Zara has opened store at Ambience mall, Gurgaon

    Zara, has opened its new store at Ambience mall, Gurgaon. Spread over 28,000 sq.ft. across two floors the store has taken the space earlier occupied by Debenhams. With this Zara now has twelve stores in India. It is present in 86 countries with