MobiKwik Launches One Step Offline Payments With 'Bubble Pin'
Keeping with its vision to grow the adoption of digital payments for offline payments, MobiKwik, the leading fintech player in India, trusted by over 32 million users has launched one-step offline payments with ‘Bubble Pin’. This pin can be generated on the MobiKwik app by clicking on 'Pay at store' and is valid for 60 seconds. To make a payment, all a user needs to do is share this pin with the merchant. The pin is a combination of numbers and alphabets. Bubble pin also makes the transaction more secure as no phone number is required to be shared. Soon, users can use this functionality in over 25000 offline stores, pan India.
Speaking on the announcement, Mrinal Sinha, Chief Operating Officer at MobiKwik said, “With this feature, we are offering the scope of making digital payments to users with slow data connections. Additionally, payment with MobiKwik is now possible at basements, parking lots and even in a flying airline, where the data network reception is not available or is intermittent."
"With an aim to make payments with MobiKwik ubiquitous, we are focusing on the expansion of our offline payments network and such initiatives shall help us convert cash users into e-cash users." Mrinal added.
With India gradually moving towards a cashless economy, MobiKwik aims to eliminate all possible glitches that may arise in the process of making a digital payment. Bubble Pin is the first step towards enabling users to go completely cashless even at places with sporadic data reception.
MobiKwik, is Indian mobile payments network, connecting 32 million users with 100,000 retailers. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised three rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway and Cisco Investments. MobiKwik aspires to be the largest source of digital transactions in India.
One of the leading digital payments platforms for online and offline merchants, MobiKwik is powering payments for IRCTC, Uber, Meru Cabs, Big Bazaar, OYO Rooms, Zomato, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Dominos, Burger King, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Barista, Food Panda, Nearbuy, Van Heusen, Allen Solly, Louis Phillips, GoDaddy, MakeMyTrip.
