Mobikwik (the Success create in e- wallet industry )

MobiKwik is well known company in e wallet industry and its  founded by Bipin Preet Singh and Upasana Taku in 2009.This is the Gurugram-based digital wallet claims to have over the 107 million users, 3 million merchants, and 200+ billers working with his platform. And the MobiKwik industry ventured out in the offline space and activated mobile payments for brick-and-mortar stores such as Big Bazaar and Domino’s Pizza and many more. The company’s founder and CEO Bipin Preet Singh has worn several hats – from writing Java code to Customer Support and Marketing as well as. He is completed graduation from the  IIT Delhi in 2002 with a degree in electrical engineering. After the graduation, he worked at Intel, Nvidia and Freescale Semiconductors for 7 years before starting up his business. And  the Mobikwik app had only a mobile Recharge feature, which means add the money on the Mobikwik wallet and recharge the mobile. And after that, he added so many types of recharge features like water billing, electricity payment bill, dish tv, and Tata sky bill, IMPs money transfer, including mutual funds, credit card bill payment and many more. As per the Wikipedia, in May 2016, after that the company stared the servicer small loans for users through Mobikwik. 
 The company provide a good service and received the coveted Prepaid Payment Instrument license from the Reserve Bank of India on 18 July 2013.In the time of year2014, the MobiKwik won the Mbillionth Award South Asia in the category of Mobile Business, for the socially valuable contributions to all South Asia’s digital infrastructure.However The company has also received in-principle approval from the RBI to set up a Bharat Bill Payments Operating Unit (BBPOU), thereby they enabling users from across all parts of India, including urban and rural,  both to pay their utility and convenience bills through the MobiKwik wallet.
About the Mobikwikis main competitors are Paytm, Freecharge, Google Pay (earlier Tez) and PhonePe. On the wallet analysis  front it rubs shoulders with Paytm, which has over 60 million wallet users. However, it has a very strong focus on the wallet, while Alipay-backed Paytm is following a horizontal approach and has forayed into B2C marketplace.

Mobikwik-(Strategy of online marketing )

According to vice president of Mobikwik hesaid that they are focused on brand building and wish to hit 150 million users, the biggest number of merchants who can accept payments by Mobikwik and change the way they handle money by 2018
 He is performing about the India’s payments market is fragmented with some 60 odd banks for internet banking, multiple levels of authentication on debit and credit cards and a generally complicated electronic payment experience for the consumer. And meanwhile MobiKwik Wallet simplifies all these things a 1-click Payment flow on your phone, tablet or computer which works the same way every time and every where as per your need.

Business model of Mobikwik

The MobiKwik in simpler terms was a model created to ease the payment related problems that were faced by online users every now-&-then in India. And By this type of way, one could easily reduce the risk of exposing card details or bank account details at multiple merchants.
They initiated the very great full model with voice services like prepaid recharge for all operators across India, data services (GPRS/3G top-ups) and plug n play mobile applications. And The MobiKwik payment gateway are launched two new products. These are the `Instant Payout’, and where a client gets his settlement on the same day, thereby eliminating the need for two days of working capital. And the Second thing is `Go Global’, a service which specifically allows a client app to collect payments from international cards.

Growth of Mobikwik

On the time of 19 June 2017, Medianama reported that Mobikwik had confirmed to them that they had raised $150 million at a valuation of $1 billion from undisclosed investors. According to the times of India media the company MobiKwik on Wednesday he said its payment gateway business unit will surpass revenues of Rs 1000 crores for the year of 2021. About the some analysis The business growth is attributed to the addition of new types of customers, scaling-up of existing customers and offering new products. In the respect payment gateway business unit, the company broke even in April 2019 and has been profitable every month since then, the release added. But this time The company doubled its revenue in the payment gateway business in the time of 2019. And It’s on track to double the revenues in 2020 and is confident of doubling it yet again in 2021 and overall Mobikwik is performing very well.

Missionof Mobikwik

The Mobikwik company mission, in present time ever since we started our journey nine years ago has been –to build affordable and accessible financial services for a billion Indians. We call this “Building for India ”,  and the vast masses that live outside Including the top 5 cities of India.The company moto is private banks have branch-led high cost distribution of models, enabling them to only service the top 10% elite Indians and 50 million Indians are therefore forced to look for financial services outside their primary bank (state-owned PSU banks have made minimal tech investments and fare poorly at digital delivery of retail loans, mortgages, life or general insurance and wealth management.)
First of all the economy itself is growing and consumer payments grow in line with the economy. Secondly, here is a move to the digital payments on account of convenience and cost, and as new services and transactions go digital (for instance, food and ticketing). Finally, there are the regulatory tailwinds from demonetization, which drove consumers toward the digital payments, as well as the implementation of GST, which has driven merchants to accept digital payments (or else forfeit the input taxes paid).

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