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MobiKwik’s W2W sees 1.5 lakh money transfers in 2 months

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V&D Bureau
New Update

Mobile money solutions provider MobiKwik has witnessed huge demand for its wallet-to-wallet (W2W) money transfer service with more than 1.5 lakh transfers taking place in two months.

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W2W was launched on June 20 and the service allows MobiKwik's eight mn registered users to make digital and mobile money transfers direct to consumers in one click, a statement said.

MobiKwik co-founder Upasana Taku said "As acceptance of online payments and mobile wallet usage grows, Indian consumers are looking for simpler ways to make electronic transfers. This new feature gives consumers the convenient option of paying anyone at any time, from anywhere in a highly secure manner."

"Transfers as little as Rs 1 or as high as Rs 5,000 can be made in a single transfer - to date we have seen approximately Rs 1 crore exchanged via the service. People are utilising the W2W feature for various reasons however some regular transactions we are seeing include people splitting bills, students and working professionals transferring money for bill payments, and friends exchanging money for group gift purchases," Taku said.

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The new W2W service includes a unique 'Request Money' feature which provides users a simple method of alerting others of any pending payments.

An updated version of the MobiKwik app is released every 15 days. MobiKwik also runs various promotions with its 700 online commercial partner base which includes Book My Show, eBay, Domino's, RedBus, and FashionAndYou.

 

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