Suvidhaa Infoserve to Facilitate Cash Loading of MobiKwik Wallet

MUMBAI, May 31, 2016 /PRNewswire/ --

- Move to Facilitate eCommerce Transactions Without use of Debit/Credit Card or Netbanking. Cash can be Deposited at any of the 90,000+ Suvidhaa Outlets Across India, to Recharge Mobikwik Wallet

- Upon Recharge, the Wallet can be Used Immediately for Online Transactions Across 75000+ Merchants Accepting Mobikwik

- Bypassing the Credit/Debit Card and Netbanking Barrier Will Attract new Users to the Indian eCommerce Industry

Suvidhaa Infoserve, a leader in the digital payments and remittances industry with 35 million unique customers, has entered into a tie-up with MobiKwik, India's largest independent mobile payments network that connects 30 million users with over 75,000 retailers.

The tie-up will enable customers of MobiKwik to recharge their mobile wallets from any of the 90,000+ Suvidhaa outlet across the country by depositing cash. This will overcome the barrier of recharging the wallet via credit/debit card or netbanking.

This partnership assumes a great significance as it brings into the fold of mobile eCommerce to even those customers who are yet unbanked or uncarded i.e., do not own debit cards or credit cards. Further, even those customers who are unwilling to opt for card payment or netbanking and are not confident about sharing their bank details due to security reasons, can now make cash payments through Suvidhaa outlets for cash loading in their MobiKwik m-wallets after downloading the app on their phones and registering themselves.

Through the mobile wallet (m-wallet) app, a registered customer can put money in his virtual wallet account with MobiKwik for paying for various e-services such as utility bill payments, recharges, instant money transfers, movie ticket booking, gifting, etc.

On the tie-up, Paresh Rajde, Chairman, Suvidhaa Infoserve, said, "Despite the fact that more than 600 million people in India own debit or credit cards, over 90% of our population still do not transact online. Our partnership with MobiKwik is yet another attempt to bridge this gap by offering various payment services to both evolved and non-evolved customers with the assurance of instant, safe and secure transactions."

Upasana Taku, Founder, MobiKwik, added, "We are excited to partner with Suvidhaa Infoserve to extend our value-based offerings to the masses in India, who do not have a debit card, credit card or netbanking service. Every Indian will now be able to go cashless in their daily purchases, be it buying groceries, booking train or bus tickets, transfering money to their friends or relatives, availing short term credit and shopping & eat out with the utmost ease." 

Customers can download the MobiKwik application (app) from Google Play store, Windows store or Apple store or from http://www.mobikwik.com. After registering themselves by using their mobile number and email id, they will just need to walk into any nearest Suvidhaa store and get cash deposited in their MobiKwik wallet. Customers can then use their MobiKwik wallet across 8,000 merchants for daily shopping, also book train/bus tickets online, pay at Big Bazaar, Dominos, Big Basket, Sagar Ratna, Archies and Jabong among others.

About MobiKwik: 

MobiKwik is India's largest independent mobile payments network, connecting 30 million users with 75,000+ retailers. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised three rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway and Cisco Investments. MobiKwik aspires to be the largest source of digital transactions in India.

One of the leading digital payments platforms for online and offline merchants, MobiKwik is powering payments for IRCTC, Uber, Meru Cabs, Big Bazaar, OYO Rooms, Zomato, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Domino's, Burger King, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Barista, Food Panda, nearbuy, Van Heusen, Allen Solly, Louis Phillips, GoDaddy, MakeMyTrip, Cleartrip, and Yatra.

About Suvidhaa: 

Suvidhaa is a leading payments company that offers financial services such as remittances, interoperable open loop prepaid cards besides a large suite of value-added services such as ticketing (rail/air/bus), utility bill payments, mobile/DTH/data recharges, insurance premium payments, corporate cash collection and mobile-based merchant acquiring services. These services are offered through Suvidhaa's over 90,000 small retail touchpoints in over 9500 PIN Code locations across India. Over 300 service providers ride on Suvidhaa's robust S-Commerce® platform to reach their last mile. Suvidhaa has now forayed into micro credit with its unique and first-of-its-kind nano credit program targeted towards its 35mn unique customers. 

Suvidhaa was promoted by Mr. Paresh Rajde in 2007 and was angel funded by Mr. Shapoorji Pallonji Mistry.

Media Contact:
Mahadevan Thevar
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Prose Consulting