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<ul><li><keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="digital-payments">Digital payments</keyword> platform <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">MobiKwik</keyword> has partnered with DT One to enable <keyword id="7772478" type="UNKNOWN" weightage="20" keywordseo="international-mobile-recharge">international mobile recharge</keyword>. </li><li>The feature will be available across 150 countries. </li><li>MobiKwik has over 107 million users in India.</li></ul>Indian digital payments platform MobiKwik partnered with DT One, a global B2B network for <keyword id="502942" type="PERSON" weightage="20" keywordseo="mobile-recharge">mobile recharge</keyword>. Its users will now be able to recharge their phones in 150 countries. The international recharge feature is live in countries in the Middle East, Asia Pacific, Europe, Africa, United States, Latin America and Carribean; across over 550 operators. “This new feature will enable millions - immigrants in India from across the globe, students studying abroad and even frequent travellers - the power of connectivity at their fingertips. This launch is in line with our growth and expansion plans in the domestic as well as international markets and making most of the services available on a single platform,” said Upasana Taku, Co-founder, MobiKwik. MobiKwik’s competitor in India, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> had already entered two international markets – Canada and Japan. In an earlier interview with Business Insider, Paytm founder Vijay Shekhar Sharma had said that it was also looking to enter the <a href="https://www.businessinsider.in/facing-jio-paytm-founder-vijay-shekhar-sharma-plans-a-ticket-to-us/articleshow/69053166.cms">US</a>. Meanwhile, the focus of MobiKwik’s new feature is to make the lives of immigrants simpler. “Nearly 5.2 million immigrants live in India, making it the twelfth-largest immigrant population in the world,” said data from the Pew Research Center. With MobiKwik’s new feature, they can now recharge for friends and family across the border while living in India. This feature will come to the aid of Indian students studying abroad. In 2018, as many as 752,725 of them study across 90 countries including the US, Australia, Canada, UK, UAE. MobiKwik has over 107 million users, along with 7,000 Indian businesses on board. In March 2019, it had announced that it has clocked an industry best success rate of over 93% for digital transactions. See Also: <a href="https://www.businessinsider.in/paytm-clocks-50-billion-through-5-5-billion-transactions/articleshow/69670592.cms">Paytm’s year in a review – Billions, profits and frauds</a>

MobiKwik marks its global foray, enables international recharge in 150 countries

<ul><li><keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, a digital payments company, has said that its payment gateway business has turned profitable. </li><li>With an IPO in mind, the company is now aiming for a ₹1.4 lakh crore annual payment volume from the payment gateway business.</li><li>Earlier in July, Mobikwik had reported a funding of ₹8.67 crores. </li></ul>Mobikwik, one of India’s leading digital payments companies, has claimed that its payment gateways vertical had turned profitable since April 2019. “Our focus on building the best tech stack for our merchants is evident in the growth and success of our Payment Gateway business. Our product and user experience (UX) philosophy is to keep the user experience simple and ultra fast. Payment Gateway is one of our fastest growing verticals and will play an instrumental role in our path to profitability,” said Upasana Taku, Co-Founder, MobiKwik. With this, the payments company now aims to ₹1.4 lakh crore annual payment volume for its payment gateway business. As a payment gateway, Mobikwik finds clients in businesses like Uber, IRCTC, Dream11, Bajaj Finance, Zomato, Grofers, Blue Dart, Delhivery, Dominos, Maruti Suzuki, Hyundai, etc. “Over 94 million unique cards are saved on MobiKwik PG platform; this includes 20 million credit cards which is 50% of all credit cards issued in India,” said the company’s official statement. In July, the company had also announced a new round of funding of ₹8.67 crore from Trifecta Capital and NDTV. Its previous investors include Sequoia Capital and American Express among others. According to <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ahead-of-ipo-mobikwik-scouts-for-investor-eyes-profit-from-fy21/articleshow/69810493.cms?from=mdr">reports</a>, Mobikwik is also planning to head for an IPO in the next three years. "We are looking for an investor who will help the company go for an initial public offering (IPO) in three years," co-founder and chief executive Bipin Preet Singh told <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ahead-of-ipo-mobikwik-scouts-for-investor-eyes-profit-from-fy21/articleshow/69810493.cms?from=mdr">ET.</a> Mobikwik finds competition from the likes of Paytm, PayU and Razorpay in the payment gateway business. Paytm claims to hold over 50% of the market share and has said that it does 400 million transactions per month; is five times more than its next competitor. A report by Credit Suisse Group AG says that the Indian digital payments market will increase five-fold from the current $200 billion to $1 trillion by the year 2023. This has also resulted in many international players eyeing the Indian market like <a href="https://www.businessinsider.in/google-wallet-creator-osama-bediers-startup-poynt-will-launch-in-india-in-2019/articleshow/68145220.cms">Osama Bedier's Poynt.</a> Bedier is also credited to be the creator of the Google Wallet. In June 2019, Mobikwik had also partnered with DT One, a global B2B network for mobile recharge, giving its users the opportunity to recharge their phones in 150 countries. MobiKwik’s competitor in India, Paytm had already entered two international markets – Canada and Japan.

Heading for an IPO, Mobikwik reports a profit in its payment gateway business

Digital payment company <keyword id="143842" type="UNKNOWN" weightage="20" keywordseo="Mobikwik">MobiKwik</keyword> today said its customers will be able to pay <keyword id="89728" type="UNKNOWN" weightage="20" keywordseo="Toll-tax">toll tax</keyword> at 391 toll plazas using the mobile wallet. 
 After receiving the approval from National Highways Authority of India (<keyword id="49448" type="ORGANIZATION" weightage="20" keywordseo="nhai">NHAI</keyword>), Mobikwik's wallet service will soon be live at 391 toll plazas in India, it said in a statement. 
 
The company has received an approval from NHAI to enable commuters across all toll plazas in the country pay cashless through its mobile wallet to avoid traffic congestion due to cash crunch, it added. 
 
"Commuters across the country can soon pay cashless at all toll plazas using their MobiKwik wallet. We have taken this step in the wake of demonetisation to avoid congestion at highways, owing to the ill effects of cash crunch," MobiKwik co-founder Bipin Preet Singh said. 
 
Post scrapping of old Rs 500 and Rs 1,000 notes on November 8, NHAI has announced no charge at all toll plazas till December 2, 2016. 
 
However, the scarcity of physical cash is expected to impact the smooth traffic at tolls after this date, given that masses are still struggling to get cash. 
 
To solve this issue, MobiKwik has been roped in to digitise toll plazas in India, the company said. 
 
At the toll plazas, users will have to open the MobiKwik app on their phone and scan the QR code on the toll plaza. After entering the amount communicated by the toll operator and the vehicle number, they can press 'pay' to complete the transaction. 
 MobiKwik has about 40 million users and is accepted at 2.5 lakh merchants, including IRCTC, <keyword id="6357823" type="COMPANY" weightage="20" keywordseo="Big-Bazaar">Big Bazaar</keyword>, OYO Rooms, Zomato, Grofers and Big Basket. 
 Founded in 2009, its investors include <keyword id="270604" type="ENTERTAINMENT" weightage="20" keywordseo="Sequoia">Sequoia</keyword> Capital, American Express, Tree Line Asia, MediaTek, Net1, GMO Payment Gateway and Cisco Investments.

You will soon be able to pay toll tax using Mobikwik Wallet

<ul><li>Mobikwik aims to turn profitable by 2020-21. </li><li>It has a wide client list with IRCTC, Uber, Blue Dart and Hyundai. </li><li>Mobikwik’s revenues in FY 2019 was 3.5 times higher than those in previous year, at ₹18.4 billion. </li></ul> Indian payments startup Mobikwik has ambitious plans for growth, and yet want to chart its path with profitability in sight. In July this year, its payment gateway business turned profitable but that is not their endgame. Mobikwik which has an enviable client list like IRCTC; and multinationals like Uber, Blue Dart and Hyundai. It also managed to attract startups like Zomato, Grofers, Dream 11 for its payments business. “We will double down on our fintech scaleup in 2020 to make 2020-21 our first full year of profitable growth. Once we hit this landmark milestone, we will march forward towards an IPO in 2023-24. We will aspire to become the first Indian fintech and first Indian payments - company to get listed in India,” the company said in response to queries by Business Insider India. Mobikwik’s revenues in FY 2019 was 3.5 times higher than those in previous year, at ₹18.4 billion. It chased credit growth and disbursed 350,000 fully digital loans, and its loan book now stands at $24 million. Alongside this rapid growth, it is hoping that its revenues will swell to ₹4.8 billion by the end of the current financial year. It hopes to achieve a pretax profit break-even by the end of 2019. In July, the company raised as much as ₹8.67 crore from Trifecta Capital and NDTV. Its previous investors include Sequoia Capital and American Express among others. “Over 94 million unique cards are saved on MobiKwik PG platform; this includes 20 million credit cards which is 50% of all credit cards issued in India,” the company said. It has a network of over 3 million direct merchants and over 107 million users.

Mobikwik aims to become the first payments startup to list on Indian bourses

Two of India’s biggest <a href="http://www.businessinsider.in/searchresult.cms?query=mobile+wallet&amp;sortorder=effectivedate">mobile wallet</a> companies have been throwing punches against each other on their respective blogs. It was <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> vs. <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a>-owned <a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> last Wednesday. 
 
It all started when <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> raised a stinker with the latest Nielsen Informate Mobile Insights Report concerning <a href="http://www.businessinsider.in/searchresult.cms?query=mobile+wallet&amp;sortorder=effectivedate">mobile wallets</a> in India. The report places <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm&amp;sortorder=effectivedate">Paytm</a> as the most popular wallet in India, followed by <a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a>. 
 
In a blog post titled ‘<a href="https://blog.mobikwik.com/index.php/the-truth-behind-nielsen-mobile-insights/">the truth behind Nielsen Mobile Insights</a>’, Akash Gupta, the GM Marketing at <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> expressed his wrath against research firm Nielson, and how ‘they mock the ecosystem.’ 
 “We reached out to Nielsen to seek clarification. They said it was meant for internal use, but <keyword id="6377963" type="UNKNOWN" weightage="60" keywordseo="Freecharge">FreeCharge</keyword> and <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> were touting it for press and to aid their pending fund-raise”, <a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=Upasana+Taku&amp;sortorder=effectivedate">Upasana Taku</a> told Business Insider. 
 
“It really pisses you off if somebody has actually not done the work but go around telling the world they are number #2. They also used it heavily in China where they are trying to raise funds from”, Taku added. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=MobiKwik&amp;sortorder=effectivedate">MobiKwik</a> also posted screenshots of e-mails from Nielsen. 
 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> shot back with a stinging post, titled ‘<a href="https://blog.freecharge.in/2016/06/15/dont-shoot-the-messenger-when-the-message-stings/">Don’t shoot the messenger when the message stings!</a>’ 
 
<keyword id="143842" type="UNKNOWN" weightage="40" keywordseo="Mobikwik">MobiKwik</keyword>’s Allegations: 
· It was a paid research 
· ‘How can a SAMPLE SIZE OF 6000 be even statistically relevant!’ · A <keyword id="490792" type="UNKNOWN" weightage="80" keywordseo="Mobile-wallet">mobile wallet</keyword> is not just a recharge app 
 
FreeCharge’s Defense: 
· It was a syndicated report 
· ‘very robust sample size by any standard’ 
· FreeCharge Wallet app officially launched in September 
 
In a very short time, the size of India’s mobile wallet market has grown significantly. According to a study by research firm RNCOS, the Indian market size for mobile wallet is estimated to rise to Rs. 1,210 crores by 2019. 
 
Payments are turning out to be crucial for India’s <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce&amp;sortorder=effectivedate">e-commerce</a> ecosystem. <keyword id="6354742" type="COMPANY" weightage="60" keywordseo="Flipkart">Flipkart</keyword> is planning to invest Rs 670 crores to build its payments business, while <a href="http://www.businessinsider.in/searchresult.cms?query=Search&amp;sortorder=effectivedate">Paytm</a> is pouring millions into its own. Last year, <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a> acquired <a href="http://www.businessinsider.in/searchresult.cms?query=FreeCharge&amp;sortorder=effectivedate">FreeCharge</a> for $450 million and has not looked back ever since. 
 
This isn't the first time India's startups have had a verbal spat online. Hopefully, it's the last. 
 
<a href="http://2.bp.blogspot.com/-o6jmPIDBE80/VMM6sM5e_PI/AAAAAAAAhjg/9iRZFIxDBk0/s1600/a.png">Image Source</a>

MobiKwik vs. FreeCharge: another war on blogs

<keyword id="2823188" type="UNKNOWN" weightage="100" keywordseo="One-Mobikwik-Systems">One MobiKwik Systems</keyword>, the owner and operator of <a href="http://www.businessinsider.in/Exclusive-How-MobiKwik-managed-to-stay-on-top-of-the-Digital-Wallet-market-despite-stiff-competition-from-Paytm/articleshow/50201287.cms">MobiKwik</a>, the online recharge and mobile wallet, has managed to raise around $50 million (Rs 332.6 crore) in a new fresh capital round led by Japan's <keyword id="3346730" type="UNKNOWN" weightage="100" keywordseo="GMO-Payment-Gateway">GMO Payment Gateway</keyword> and Taiwanese fabless semiconductor company <keyword id="6369515" type="COMPANY" weightage="100" keywordseo="Mediatek">MediaTek</keyword>. 
 
Also read: <a href="http://www.businessinsider.in/One-wallet-to-pay-for-them-all-MobiKwik-ties-up-with-Zomato-OYORooms/articleshow/49324049.cms">One wallet to pay for them all: MobiKwik ties up with Zomato, OYORooms</a> 
 The Series-C round was closed last month and also had the company's existing investors <keyword id="122716" type="CITY" weightage="100" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> and Asia-focused hedge fund <keyword id="2799728" type="UNKNOWN" weightage="100" keywordseo="Tree-Line-Asia">Tree Line Asia</keyword> participating in it. However, the amount at which the company was valued after getting the funding was not disclosed. 
 
"<a href="http://www.businessinsider.in/After-Snapdeal-Mobikwik-files-patent-for-payment-platform/articleshow/50379128.cms">MobiKwik</a> is excited to have raised an undisclosed amount in the Series-C round of funding led by GMO and MediaTek. GMO is Japan's leading payment gateway and MediaTek is the world's leading semiconductor company," said a mail that the company spokesperson wrote to ET, without commenting on the specifics of the deal. 
 It was in March that <keyword id="143842" type="UNKNOWN" weightage="100" keywordseo="Mobikwik">MobiKwik</keyword>'s CEO <a href="http://www.businessinsider.in/Start-in-India-to-Make-in-India-A-startup-CEOs-message-for-Budget-2016/articleshow/51093247.cms">Bipin Preet Singh</a> had said that the company was looking to raise an amount between ranging from $40 to 50 million. 
 
According to a statement released by GMO Payment Gateway, the company has made the investment through GMO Global Payment Fund, a $15-million fund that is backed by major financial institutions, including, credit card issuers and acquiring banks. The fund targets investment opportunities among payments companies throughout Asia, while putting a strong focus on South East Asia. 
 
<a href="http://i1.wp.com/apptricker.in/wp-content/uploads/2015/12/Mobikwik-Wallet-Offers.jpg">Image source</a>

MobiKwik’s parent raises $50million in funding

New Delhi, Unicorn Fintech firm <keyword id="143842" type="General" weightage="20" keywordseo="MobiKwik" source="Orion">MobiKwik</keyword> on Tuesday reported its first ever consolidated profit at Rs 3 crore in the first quarter ended June 30, a senior company official said. MobiKwik Co-Founder and COO Upasana Taku told PTI that MobiKwik has become the first fintech firm to post consolidated profit and expects to maintain the momentum throughout the year. "We have registered an adjusted Earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 13.6 crore which is 181 per cent increase on a year-on-year basis. "This is the second consecutive quarter when we have posted positive EBITDA and the first quarter when we have posted consolidated profit after tax of Rs 3 crore. We expect to continue the growth momentum and achieve full-year profitability," Taku said. Taku said that she expects other startups also to turn profitable as it will give a boost to the investment environment in the country and sentiments of investors. She said that MobiKwik has been growing consistently without cash burn and margins have been improving quarter over quarter. "Our revenues grew to Rs 177 crores in the quarter, which is 68 per cent higher compared to corresponding quarter last fiscal and contribution margin rose by 108 per cent to Rs 73.9 crore," Taku said. In the March 2023 quarter, MobiKwik had posted revenue of Rs 160 crore and recorded an adjusted EBITDA of Rs 3 crore. "In FY 2022-23, we achieved all the major goals we set for MobiKwik the previous year. First quarter has been a good start to the fiscal year. Our numbers are positive in all parameters, be it adjusted EBITDA, EBITDA or PBT (profit before tax). We expect to deliver over 80 per cent topline growth for this fiscal year," Taku said. Peak XV backed MobiKwik ended the financial year 2022-23 with Rs 560 crore in revenue and became profitable from the fourth quarter of the financial year 2022-23, and its contribution margin rose to Rs 169.5 crore as compared to Rs 42 crores in FY 2021-22, nearly 304 per cent Y-o-Y growth. She said that the company gets about half of the business from payments services which is mainly payment made from wallet service and the rest of the half from distribution of financial services comprising buy-now-pay-later, consumer loans etc. The company at present has over 14 crore registered user base and around 40 lakh merchant partners.

MobiKwik posts first ever consolidated profit in Jun quarter 2023-24

<keyword id="143842" type="UNKNOWN" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword> just launched a new version of its Andriod app-'<keyword id="3896202" type="UNKNOWN" weightage="20" keywordseo="Mobikwik-Lite">MobiKwik Lite</keyword>'. This 1 mb app will be downloaded on mobile phones in 30 seconds and enables you to use MobiKwik in most online and offline merchants, even on a basic Edge connection. 
 
This app can be downloaded by giving a missed call on 8097180971. You will receive a link on your phone which you can click on to download the app. 
 
This app is available in English and Hindi. More languages will be launched by the end of this week. The app enables you to pay or receive MobiKwik cash seamlessly, using a QR code or an SMS. 
 
According to the company, other features of the app are: 
 
1) Single step OTP Login 
2) Compatible with Andriod v2.3 &amp; above 
3) Supports receiving payment, bank payments/transfer/P2P transfer, bill payments and recharges 
4) Does not require high speed data. Even works on edge.

You Searched For "Mobikwik" and got 8 results

MobiKwik marks its global foray, enables international recharge in 150 countries

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Heading for an IPO, Mobikwik reports a profit in its payment gateway business

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You will soon be able to pay toll tax using Mobikwik Wallet

BI India Bureau

Mobikwik aims to become the first payments startup to list on Indian bourses

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MobiKwik vs. FreeCharge: another war on blogs

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MobiKwik’s parent raises $50million in funding

BI India Bureau

MobiKwik posts first ever consolidated profit in Jun quarter 2023-24

PTI

MobiKwik launches a 'lite' app for seamless transactions, even on basic connection

Tanya Dubey

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