MobiKwik, the first to launch a mobile consumer wallet and reach 1 mn downloads for its Android App, announced a rise of 600 per cent in revenues in 2013 with a total user base of 4 mn - the wallet offers services like shopping, recharge and bill payments.
"The mobile wallet will change the face of online commerce by enabling customers to simply make “tap and go” payments with their mobile devices, while increasing loyalty at merchant locations, "says Bipin Preet Singh, CEO & Founder, MobiKwik
Nearly 10,000 new users sign up for a MobiKwik wallet every day and it powers more than 100,000 transactions daily, a majority of them via the mobile.
“Our projections indicate that in the next 5 years, more than 300 million Indians would attempt to do their first digital transaction using a smartphone. We hope that this first transaction will be completed via a MobiKwik wallet. For users who are getting on the Internet for the first time using their mobiles, the exhilaration of being able to pay and purchase something is life changing! That’s why we have a very loyal user base that is growing at more than 400%” year on year”, said Bipin Preet Singh.
He adds, "Across all platforms – Android, iOS and Windows, the MobiKwik wallet App has more than 2 mn downloads. "