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With its latest offering,<keyword id="143842" type="UNKNOWN" weightage="60" keywordseo="Mobikwik">Mobikwik</keyword> doesn’t want to limit you to pay or receive Mobikwik cash but it is open to integrating with other e-wallets like <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>. 
 
Not just that, Mobikwik ‘lite’ is claiming to be India’s lightest mobile wallet only taking up 700 kb on your phone. This app can prove to be a gamechanger after demonetization, for a majority of Indians who might have a basic smartphone but not an email address. 
 
<a href="http://www.businessinsider.in/EXCLUSIVE-Inside-Paytm-the-first-24-hours-after-demonetization/articleshow/55581182.cms">ALSO READ: EXCLUSIVE: Inside Paytm, the first 24 hours after demonetization</a> 
 <keyword id="1132860" type="UNKNOWN" weightage="60" keywordseo="Bipin-Preet-Singh">Bipin Preet Singh</keyword>, CEO &amp; Co-founder of Mobikwik explained <a href="http://www.businessinsider.in/The-5-people-you-should-have-in-your-startup/articleshow/55582908.cms">how this is going to work.</a> “We already have five e-wallets on our platform namely Pesa, Oxigen, Pockets, PayZapp and SBI Buddy. What this means is that the customer can use any of these wallets to pay through Mobikwik to a merchant.” 
 “Currently working with 2G or even Edge connectivity, <keyword id="3896202" type="UNKNOWN" weightage="20" keywordseo="Mobikwik-Lite">Mobikwik Lite</keyword> will soon work without any net connectivity too, thereby addressing all the challenges being faced by the masses in accessing wallet payments, from language to connectivity or quality of smartphones,” <keyword id="6361419" type="PERSON" weightage="20" keywordseo="Singh">Singh</keyword> said. This lightweight app is expected to be a free service for the merchants and customers until March 2017. 
 
Mrinal Sinha, COO, Mobikwik said, “After demonetization, we realized that we wanted to get as many people online as possible, from merchants to consumers. This move is to make digital payments through internet or SMS available to all. In theory, this will disrupt the market as it could replace POS devices.'' 
​ 
<a href="http://www.businessinsider.in/MobiKwik-launches-a-light-lite-app-to-integrate-all-Indians/articleshow/55662642.cms">The completely offline app is expected to launch in 10 days. E-commerce partnerships have been doing really well for the company, as it moves towards its goal of becoming profitable by mid-2018.</a> 
 
“80% of our e-commerce partnerships are profitable even after the cashback. Recharge and bills are breakevens for us,” claims Singh.

	 
	Maybe, partnering with other e-wallets makes sense on the way to profitability in the newly digitized market.

	 
	Whether it is going to be survival of the fittest or the lightest, only acquisitions will tell.

EXCLUSIVE: Mobikwik is willing to partner with other e-wallets
like Paytm

After eCommerce firms, now the online wallet and payment companies are trying their best to reserve a space for themselves in the promising Indian market. Almost every other day, we get to hear a lot about these companies’ new initiatives for wooing customers as well as retailers. And now, companies like <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> and <keyword id="143842" type="UNKNOWN" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword> have gone a step ahead and joined hands with local kirana stores to expand their arms into semi-urban and rural areas. These are the areas that are considered as <a href="http://www.businessinsider.in/E-wallets-will-actually-be-a-burden-for-the-banks-not-a-boon/articleshow/47984502.cms">underserved by banks</a>. 
 
According to a recent Economic Times reports, these companies are offering attractive rewards and are motivating customers to convert their money into wallet money at the local kirana stores. The idea is to get rural clients. Penny Gillespie, research director for electronic and mobile commerce at Gartner, USA says, “Rural clients are important to digital wallet suppliers for the market size and need for convenience. 
 
Enabling these rural clients also increases the appeal of the <a href="http://www.businessinsider.in/You-might-soon-be-able-to-shop-up-to-Rs-25K-via-mobile-wallets-Paytm-asks-RBI-to-raise-cash-limit-for-the-same/articleshow/48110055.cms">digital wallet</a> to merchants and increases the number of payment transactions that are processed by gateways and PSPs, which is how gateways and processors make their revenue." 
 
Amit Lakhotia, Paytm vice-president of payments also shared similar thoughts. He said, “The idea is to primarily promote adoption among users who are reluctant to use digital payment methods or are unable to access them.” 
 
On the record, the <a href="http://www.businessinsider.in/Digital-wallets-becoming-popular-among-consumers-reveals-RTI/articleshow/48233920.cms">online wallet and payment service</a> company, backed by Chinese eCommerce biggie Alibaba has recently partnered with Hyderabad-based <keyword id="2411000" type="UNKNOWN" weightage="20" keywordseo="NumberMall">NumberMall</keyword> to pull at least 15,000 kirana stores in its network as cash points where users can easily top-up their Paytm wallets. 
 NumberMall founder and CEO <keyword id="3032679" type="UNKNOWN" weightage="20" keywordseo="Kiran-Kumar-Gali">Kiran Kumar Gali</keyword> says, “Users who come for topping up their wallets are mostly students who do not have bank accounts, are active smart phone users and rely heavily on rewards and cash-back from the wallet for online purchases.” Gali further informed the media that the tie-up is a month old. 
 
Payment wallet Mobikwik had recently announced a similar tie-up with assisted ecommerce player StoreKing, which installs kiosks in retail and mobile recharge stores in rural areas across southern India. 
 
"We are trying to understand the usage pattern for customers in rural areas and to ease converting cash into wallet money. We are working on a model in Delhi and Mumbai, which will be soon launched in other cities where users can click a button on the Mobikwik app and get their wallets recharged on payment of cash to an agent at their doorstep," said Mrinal Sinha, COO of Mobikwik. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Mobikwik+">Mobikwik </a>has 20 million wallet users while, Paytm has 100 million wallet users. 
 
"We are currently running a pilot in Bandra (Mumbai) with 30 kirana stores to accept payment through the Citrus Pay wallet. In case of large retail chains, the adoption of wallet to pay is low due to the cumbersome process," said Jitendra Gupta, founder of Citrus Pay. 
 
Gillespie said digital wallets have the capability to exclude banks if the wallet accepts cash payments for reload. 
 
Image: paytm.com

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EXCLUSIVE: Mobikwik is willing to partner with other e-wallets like Paytm

Tanya Dubey

Now refill your Paytm wallet at the nearest kirana store

BI India Bureau

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