Updated on September 26, 2018

·

Created on August 30, 2017

MobiKwik

Upcoming Update

Mobile phone based payment system and digital wallet

Developed By Unknown
Content Partners
Unknown

Author

Product Description

MobiKwik is an Indian technology company that provides a mobile phone based payment system and digital wallet for shopping, mobile recharge, DTH recharge, money transfers and bill payments. Customers add money to an online wallet that can be used for payments using directly the cellphone.

Distributors / Implementing Organizations

MobiKwik Systems Private Limited.

Manufacturing/Building Method

MobiKwik was seeded with $250,000 USD by the company's founders, husband and wife team Bipin Preet Singh and Upasana Taku, to develop the website and payment options. The initial service was a website with a closed wallet facility, but the service has evolved to mobile apps.

Intellectural Property Type

Trademarked

User Provision Model

Users can download app directly to their terminals. Available for AndroidiOS and Windows.

Distributions to Date Status

25 million users across India as of August 2017.

Design Specifications

MobiKwik works as a payment system and digital wallet. Users add money to an online wallet that can be used for payments. The company also provides small loans to consumers as part of its service.

Technical Support

There is available a FAQ and a customer support section within MobiKwik web page.

Replacement Components

N/A

Lifecycle

N/A

Manufacturer Specified Performance Parameters

The product aims to work as an electronic wallet for secure online transaction. It holds user money that then can be used for recharges, bill payments and physical and online shopping.

Vetted Performance Status

None.

Safety

N/A

Complementary Technical Systems

Terminal such as a computer, laptop or phone with Internet connection required to access and use the service.

Academic Research and References

  1. Rathore, Hem Shweta (2016): Adoption of digital wallet by consumers. BVIMSR’s Journal of Management Research; Mumbai Vol. 8, Iss. 1, (Apr 2016): 69-75.
  2. Meera Mathur, Kuldeep Sharma: Demonetization and Internet Shopping Trends in India.
  3. P. Maindola, N. Singhal and A. D. Dubey, “Sentiment Analysis of Digital Wallets and UPI Systems in India Post Demonetization Using IBM Watson,” 2018 International Conference on Computer Communication and Informatics (ICCCI), Coimbatore, Tamilnadu, India, 2018, pp. 1-6.
    doi: 10.1109/ICCCI.2018.8441441
  4. V.P. Singh, Afroz Jahan, Altaf Ahmad Mathu (2017): Mobile Wallets Talk of Every Town after Demonetization: Factors Effecting Mobile Wallet Users: An Empirical Study of Bhopal. International Conference on Advance Studies in Engineering and Sciences

Compliance with regulations

Yes. All operations authorized by the Reserve Bank of India.

Other Information

None.

Leave a Reply

Explore similar solutions

Agriculture

September 16, 2020

Fundación Capital [Finance Education]

Read Solution
All Solutions

Contribute to E4C's Library of Breakthrough Sustainable Development Technology Solutions

Suggest A Solution

Get more information about Solutions Library and its features.

Learn More

Have thoughts on how we can improve?

Give Us Feedback

Join a global community of changemakers.

Become A Member