By significantly reducing the number of steps that is required to realize a payment during online recharge, the success rate of a single online transaction increases significantly. This is because it does not involve any bank account or for that matter even cards. The Cash pay from Mobikwik app service also helps in significantly reducing the Cash on Delivery transactions for other e-commerce companieswhile people are doing Tata Docomo online recharge.
Mobikwik wallet helps merchants to boost the shopping experience, significantly on the mobile. The MobiKwik wallet is also designed to deliver a consistent, quick and smooth checkout experience during online recharge, which is irrespective of either merchant or channel; it generally delivers analmost 100% transaction success, mostly on the mobile because it requires just one simple click to complete the payment transaction.
The strategy of Mobikwik Company for merchant acquisition is extremely unique and offers a win-win scenario. They are growing exponentially and any business that goes live with the Mobikwik Wallet has the visibility with their user base of nearly 5 million today.
The growth of the smartphone industry has in turn led to the growth of many companies in this particular field and Mobikwik happens to be just one of those companies that has utilized the Tatadocomo online recharge offers. MobiKwik is a closed wallet company which was initially started in 2009. The Mobikwik mobile app records around 100,000 transactions every day across the country due to online recharge. The Mobikwik Company is growing by about six to eight times each year.
However, this has mostly been dependant on the smartphone industry growth in the country which has in turn increased the number of online recharges. The growth of Mobikwik depends on the adoption of the smartphones by the consumers in the country. As the prices of most of the smartphones are coming down and as the adoption of smartphones are increasing so does the usage of the Mobikwik mobile app. Mobikwik has over two million customers on Android, about 4.5 million on iPhones and more than half a million on the Windows platform. Mobikwik differentiates them by providing innovative services like the cash pay service during online recharge. Somebody from the Mobikwik team will visit the customers, collect the cash and then they will deposit it in your mobile wallet.
The Mobikwik Company aims to have more than 15 million customers by the end of the present year. MobiKwik also has tie-ups with most of the telco operators for prepaid online recharges. The average online recharge for any transaction on MobiKwik is between Rs 100 and Rs 150. The Mobikwik Company gets between Rs 3 and Rs 4 for every online recharge. The Mobikwik Company is now all set to launch a unique money transfer product, which it claims will be different than the current products that are available in the market. What is currently available is something that is like assisted transfer but theirs will be different and will not need any assistance.