MobiKwik introduces new mobile money transfer service

By : |August 22, 2014 0

NEW DELHI, INDIA: India’s mobile wallet service, MobiKwik, is experiencing increasing adoption in its new wallet-to-wallet (W2W) money transfer service.

The new W2W service allows MobiKwik’s eight million registered users to make digital and mobile money transfers direct to consumers in one simple click.

MobiKwik co-founder, Upasana Taku said: “As acceptance of online payments and mobile wallet usage grows, Indian consumers are looking for simpler ways to make electronic transfers. This new feature gives consumers the convenient option of paying anyone at any time, from anywhere in a highly secure manner.”

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The new W2W service also includes a ‘Request Money’ feature which provides users a simple method of alerting others of any pending payments.

“Transfers as little as Rs.1 or as high as Rs. 5,000 can be made in a single transfer – to date we have seen approximately Rs.1 Crore exchanged via the service. People are utilising the W2W feature for various reasons however some regular transactions we are seeing include people splitting bills, students and working professionals transferring money for bill payments, and friends exchanging money for group gift purchases.”

To ensure the security of the W2W service a One Time Password (OTP) is generated before each wallet money transfer is made.

Understanding that a seamless user experience is critical for any digital payment service, an updated version of the MobiKwik app is released every 15 days.

 

 

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