MOBIKWIK WILL NOT LEVY 2% ON CREDIT CARD RECHARGES

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The company will retain its no charge policy to promote cash-less economy

March 9, 2017: Indian mobile wallet major, MobiKwik today announced that it will continue to offer free uploading of money into their wallet for all users, including credit card users. Post demonetization, in order to boost the government’s vision of cash-less India, the company had a stated policy of revoking fees on uploading money through credit cards and today the company reiterated its policy of continuity.

MobiKwik’s Founder and CEO, Bipin Preet Singh, announced today, “In order to popularise the government’s vision of a cash-less society, we at MobiKwik have decided not to charge 2% on credit card recharges so that more people can transact online without having to worry about additional charges”.

MobiKwik has been on the forefront of India’s cash-less journey and aim to build on the customer’s trust and deliver efficient, transparent and simple financial solutions which will fast track adoption of digital payments in the country. The company currently serves over 55 million users and1.4 million merchants. By the end of 2017, MobiKwik aims to increase its user base to 150 million and serve over 5 million merchants. The company is the leading digital payments provider for IRCTC, NHAI, Amul, MakeMyTrip, Myntra, Jabong, Big Bazaar and other major retailers.

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