MobiKwik, a mobile (m) wallet player, today announced that it has recorded an impressive 150,000 number of downloads for its Mobile Recharge & Bill Pay application (app) since September 2012, when it launched a major upgrade to its mobile app.Launched in 2009, MobiKwik aims to build a mobile payment ecosystem that will enable its users to pay via their MobiKwik wallet at the most frequent places they shop online and offline. MobiKwik’s ambition is to be the PayPal of India by simplifying digital transactions between merchants and consumers, facilitated by the MobiKwik m-wallet.
We got in touch with founder and CEO, Bipin Preet Singh to learn more.
Q: How has MobiKwik been pushing the app? How has the marketing been done?
A: We have not been pushing so far. The app has marketed itself because of its advantages - its lightweight, fast and very easy to use.
Q: Geographically, where are the downloads coming from?
A: India, Delhi and Mumbai lead the way.
Q: What is the 'number of active users'?
A: We have about 50% Active users
Q: Who are you competing with? How do you differentiate?
A: If you look just at the recharge vertical yes we have quite a few competitors – rechargeitnow, paytm and freecharge being the major ones. However, we are not a recharge company. We are a consumer wallet company. Today we have the largest number of active digital wallet users in India who trust us with their money. We are truly India’s Paypal. This is what makes us special.