Mobikwik

1. History
2. STP
3. 7P
4. Conclusion

History

Founded in 2009 by IIT Delhi alumnus Bipin preet Singh and Upasana Taku, Mobikwik was initially a
website based closed wallet service provider and later extended their service to mobile app. They
partnered with online merchants in ecommerce sites to provide wallets as payment options. Later in
2012 they ventured into digital wallet system to allow users to deposit money into wallet, wallet to
wallet transfers and pay utilities like electricity, recharge, bills and introduced Zaakpay, a payment
gateway system for online merchants to collect payments in mobile apps and websites to increase their
value prosoition to its customers. In the year 2016, they entered small finance lending services where
the users could avail credit between 500-2500rs. 2016 bank note demonetization was a boon to the
wallet and online payments systems and financial transactions in Mobikwik grew by 400% by the end of
the year. As of 2019 they were major fintech company in India with 80% marketshare in wallet
transaction along with paytm, they have also started offering loans, insurance and financial advisory
services. Realizing that credit penetration in the country is meagre 3.5%, so to improve credit facility to
its customers they launched their flagship service called BNPL ( buy now pay later) where customers can
make payment for their daily expenses and pay the outstanding amount on a later date. They are also
pioneers in fintech sector to leverage big data and analytics and implementing AI and ML in their
offerings and improve customer satisfaction.

Marketing mix

The company obtained the Prepaid Payment Instrument license from the Reserve Bank of India on 18 July 2013 as well as
RBI’s approval for developing a Bharat Bill Payments Operating Unit (BBPOU), allowing users across India, to make their
utility and convenience bill payments via the MobiKwik wallet.

Competitors

MobiKwik’s main competitor is PayTM, yet unlike PayTM which has recently adopted more of a horizontal approach,
MobiKwik’s primary focus lies on its wallet facility. 

The firm also has associations with Non-Banking Financial companies like Aditya Birla as well as Bajaj Finance.

The firm also has associations with ICICI Lombard for accidental insurance and even facilitates various other insurance
products such as online fraud protection, dengue insurance, and so on. 

latform has also entered the offline space by enabling mobile payments for traditional stores
like Big Bazaar and Domino’s Pizza

In March 2015 MobiKwik entered into partnership with Cafe Coffee Day to allow its customers to make payments through
the MobiKwik wallet across all its outlets in India. In the month of July of the same year, MobiKwik entered
in partnership with Uber India, allowing Uber and its drivers to adopt the MobiKwik platform for processing the debit and
credit card payments made to them. 
 
MobiKwik entered into a partnership with IDFC Bank in November 2017 to introduce a co-branded virtual Visa prepaid card
for its users.
 
The platform declared a partnership with DT One, the global B2B network for mobile top-ups, rewards and airtime credit in
June 2019. This alliance will allow the startup to facilitate mobile recharge in 150+ countries across over 550 mobile
operators.

References

1. https://www.mobikwik.com/
2. https://startuptalky.com/mobikwik/
3. https://en.wikipedia.org/wiki/MobiKwik
4. https://dsim.in/blog/2015/11/04/case-studyhow-mobikwik-became-indias-leading-mobile-
wallet-company-in-just-6-years/