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.
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
User Provision Model
Distributions to Date Status
25 million users across India as of August 2017.
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.
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
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
- 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.
- Meera Mathur, Kuldeep Sharma: Demonetization and Internet Shopping Trends in India.
- 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.
- 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.