Mobile wallet MobiKwik said it has witnessed a 400% increase in transactions across Gujarat. Regions leading this trend are Ahmedabad, Vadodara and Surat.
Speaking on demonetization, Mrinal Sinha, COO of MobiKwik, said, “Demonetization has led to a massive shift in how Indians perceive cash. Physical cash is no longer a safe asset and it wouldn’t be wrong to say that the age of digital money has arrived in India, with more and more people adapting to this change with mobile wallets.”
Gujarat contributes to 10% of MobiKwik’s user base. Some of the leading merchants from the city, including Big Bazaar, Croma, Pantaloons, Big Basket, Food Panda and Grofers have seen significant increase in transaction volumes. The company also powers cashless payments for Madhya Gujarat Vij Company, Dakshin Gujarat Vij Company, Paschim Gujarat Vij Company and Uttar Gujarat Vij Company. Gujarat Gas Company also received cashless payments with MobiKwik. Users can recharge their phones and pay their DTH bills using the app too.
“We are encouraged with the growth seen in Gujarat and are hoping to sign up more merchants and expand our presence in the state,” Mrinal added.
MobiKwik also has its cash pick up service in Surat and plans to launch the same in Ahmedabad by next year. With this service, users can request for cash pick up from their location for loading MobiKwik wallet.
Nearby feature on the MobiKwik app can be accessed by users to identify food and shopping outlets around their location that accept MobiKwik wallet. MobiKwik users can send or receive money for free to any mobile number or bank account.