Mobikwik

Digital payments firm Mobikwik, backed by Sequoia Capital and India’s Bajaj Finance, filed for an initial public offering (IPO) worth up to Rs 1,900 crore ($255 million) with the markets regulator on Monday.

E-wallet Mobikwik is going to charge consumers anywhere between Rs 100 and Rs 140 as “wallet maintenance charge” from inactive users, a first in the Indian market.

With this, around 65 million users of the Mobikwik will gain access to an IDFC Bank virtual card embedded within the app. Mobikwik users can generate a 16-digit Visa virtual card through the app and use it for online transactions.

IndusInd Bank has tied up with Mobikwik to launch a cobranded wallet ‘IndusInd Mobikwik’ that allows bank customers to pay Mobikwik merchants using a direct debit feature.

In a release, the company claimed that its new product Mobikwik Biller Stack is aimed at partners like ixigo who would like to launch the ‘Bill Payments’ category on their mobile apps. Using the Mobikwik Biller Stack, partners like Flipkart can enable their users to pay utility bills on their app.

"This acquisition is in line with our vision of becoming a full-stack payments firm, where we are the one-stop for all financial needs," said Upasana Taku, cofounder, Mobikwik. Founded in 2016, Clearfunds currently has $45 million assets under management and Mobikwik plans to invest $15 million into the new business over the next year.

Payments firm Mobikwik has delayed its plans to proceed with an initial public offering (IPO) of shares this month, its CEO said on Tuesday, in an anticipated move following the dismal market debut of larger rival Paytm earlier this month.

Mobikwik's Daily Gold Savings Plan, in partnership with SAFEGold, encourages small daily savings, free SIP for investments over Rs 51, promoting financial discipline, future saving, and long-term wealth building for improved financial well-being.

Mobikwik has announced its partnership with Indian Railway Catering and Tourism Corporation (IRCTC) to power e-cash payments for tatkal bookings.

New Delhi, Aug 6 () Mobile wallet company Mobikwik is looking at raising over USD 100 million from investors this year to fuel its expansion.

Mobikwik introduces Pocket UPI, a wallet-based payment option similar to UPI Lite. Users can make UPI payments without linking their bank account, reducing fraud and bank statement clutter. Users can add balance using credit cards, debit cards, and UPI. No limitations on PIN, daily transactions, or maximum payment amounts.

The Reserve Bank of India (RBI) has ordered digital payments firm Mobikwik to probe allegations that data of its 110 million users was breached, and warned that the company will face fines if lapses are found, a source with direct knowledge of the situation told Reuters on Thursday.

In a major data security lapse by a private entity, 8.2 terabytes — the largest such breach in India — consisting of personal information of 3.5 million users, allegedly of payments platform Mobikwik, is up for sale on the dark web.

Taku said the company is in talks to partner with a bank and a card company to bring out the Mobikwik cards, but did not reveal the names.

Health insurance company Max Bupa has announced a strategic partnership with fintech company Mobikwik to promote an affordable and convenient bite-sized group health insurance products.

New Delhi, Feb 8 () Digital payments firm Mobikwik today said it is looking at raising fresh funding in three months as it revs up expansion to compete head-on with rivals like Paytm.

Mobikwik to hire 1000 staff, enter 13 new cities by 2017

Mobile wallet company Mobikwik has tied up with Bharat Petroleum Corporation Ltd (BPCL) to offer a benefit of Rs 5 per litre on petrol and diesel to all BPCL users in Delhi. The offer is valid at top 43 performing BPCL outlets in Delhi NCR for the next six months.

Launched in 2011, Mobikwik’s payment gateway business supports all forms of digital transactions and operates for industries across sectors like food, travel, telecom etc.

Mobikwik is now a Digital Bank for the millions of underbanked Indians. From accessing one’s bank account (via UPI),making payments, availing instant loans, to wealth management, buying/selling of digital gold and digital insurance— one can do it all on Mobikwik App. The App is targeted towards the 400 million customers who have bank accounts and smartphones but want a 21st century digital experience, not a web 1.0 or branch- led experience.

Mobikwik, which has 32 million users, launched the cash pick up service in September 2015 to cater to those users who are either unbanked or aren’t comfortable using net-banking, credit or debit cards.

Last week, Mobikwik's rival and Snapdeal-owned Freecharge was sold to Axis Bank for Rs 385 crore.

New Delhi, Oct 8 () Digital payments firm Mobikwik plans to invest Rs 60-80 crore on marketing and promotions in the next six months as it looks to drive transaction volumes on its platform and get more consumers onboard.

Mobile wallet Mobikwik has launched an employee reimbursement management product -- ReMP -- that will allow companies to automate employee reimbursements like food, travel and medical expenses quickly and easily with the wallet.

obile wallet firm Mobikwik has announced that its wallet service will be live at 391 toll plazas as the company has received approval from NHAI to enable commuters across all toll plazas in the country make cashless payment using its mobile wallet after December 2, until when the toll charges are waived.

Mobile wallet Mobikwik has announced its association with Samsung Pay, through which the wallet is integrated with Samsung Pay Mini to enable one-tap payments at merchants using Mobikwik.