MobiKwik makes payments easier for travellers

NEW DELHI, INDIA: MobiKwik has announced its tie-up with the top 4 travel portals in the country – MakeMyTrip, Cleartrip, Yatra.com, and Goibibo. Customers of these travel portals can now make payments for flight / cab /bus/ train and hotel bookings, fromtheir MobiKwik wallet, instead of having to use any card.

MobiKwik expects to facilitate travel and hotel bookings worth Rs. 200 cr, over the next 12 months.

Bipin Preet Singh, founder and CEO, MobiKwik said, “We are happy to see the MobiKwik wallet go live on Cleartrip, MakeMyTrip,Yatra.com, and Goibibo. Travel is the largest e-commerce segment and the conditions are ripe for mobile wallets to disrupt payments in the travel sector today. It is time to provide customers in this segment the convenience, safety and transparency that MobiKwik offers. We are confident that a large number of our 17 million visitors will now use their favorite wallet to make their travel payments.”

MobiKwik recently raised close to $25 million in a Series B round from Tree Line Asia, Cisco Investments, American Express and existing investor, Sequoia Capital.

The company plans to raise another $100 million in the latter half of 2015. The company plans to disrupt the payments space further in 2015 by creating an offline retail network of more than 100,000 merchants across India that will serve both as points for cash loading into the wallet and for wallet payments acceptance. MobiKwik has also applied for a Payments Bank license in February 2015.