New Delhi: MobiKwik, one of India’s leading mobile-wallet companies, is in advanced talks with about half a dozen lenders and mutual funds to raise as much as Rs 1,000 crore to finance its expansion plans that include the likely acquisition of a rival, three people familiar with the development. …
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New maternity leave a worry for start-ups
New Delhi: The maternity bill, which allows leave for more than six months from the current three months, has thrown India’s startup community into a tizzy. While some startups hailed the development as a progressive step, many said they cannot afford the cost of hiring somebody, who may be…
Mobikwik sees spike in merchant enrolment in Tier II, III; registers 3k% growth
Indian mobile wallet major MobiKwik has said that Tier II and Tier III towns are leading the next level of growth in cashless transactions as the steps initiated by the Central Government to promote digital payments in smaller towns are yielding results. States such as Uttar Pradesh, Bihar and Jh…
Budget 2017: A hit or a miss for entrepreneurship in India? Start-ups respond
The biggest day on India’s policy calendar had a slew of announcements directed at the middle class and the rural sector, but few that shone a spotlight on the burgeoning startup ecosystem in India. India’s payment industry, however, has much to cheer about with the proposed regulator…
Currency Switch Impact | Mobikwik offers virtual card for payments
A day after rival Paytm launched its app-based point of sale (POS) facility, for users with credit and debit cards, Mobikwik announced a virtual card technology which will allow users make payments across all online and offline shops which accept cards. Mobikwik claims that it will be a safe way …
Make ‘tatkal’ e-payments for rail tickets now with MobiKwik
Mobile payments network MobiKwik has partnered Indian Railway Catering and Tourism Corporation (IRCTC) to launch e-cash payments for tatkal bookings. “MobiKwik collaborated with Indian Railways to digitise payments on the IRCTC app and IRCTC FoodOnTrack app this year, and now we are powerin…
South Africa’s Net1 tops up Mobikwik wallet by $40 million
South Africa headquartered global payments solutions and transaction processing company Net1 UEPS Technologies Inc has announced a strategic partnership with digital wallet player MobiKwik. Net1 will invest $40 million in MobiKwik and will integrate its Virtual Card technology with the MobiKwik w…
Net1 to invest $40 mn in MobiKwik, a leading digital payment platform in India
Net 1 UEPS Technologies, Inc. (“Net1” or the “Company”) (NasdaqGS: UEPS, JSE: NT1) today announced that it has signed a subscription agreement with One MobiKwik Systems Private Limited (“MobiKwik”) in India. MobiKwik is India’s largest independent mobile payments network, trusted by over 32…
Mobikwik to offer 6% annual return to wallet users
Fin-tech company MobiKwik said it will offer 6 per cent annual interest on the account balance to its mobile wallet users. The company, which competes with Alibaba-backed Paytm, has over 30 million wallet users in the country. MobiKwik claims it is growing at 250 per cent per year and expects to …
Mobikwik offers loans to wallet users to push digital payments
Fin-tech company Mobikwik is expanding its services by offering instant micro loans to wallet users running short on balance as part of its efforts to boost digital payment usage in the country. The company, which competes with Alibaba-backed Paytm, started pilot on the project a few weeks back a…