No transaction fees until 2017! The India-based online recharge and mobile wallet company MobiKwik announced that it is waving its per transaction fee for all unorganized retail merchants until December 31 to promote the adoption of e-cash among the local grocery stores, chemists, apparel stores and other mom-and-pop shops, according to a news source. The company is also offering 25% cash back to the users of offline merchants who sign up during this period.
“MobiKwik has become an integral part of the lives of 35 million Indians. As the MobiKwik families prepare themselves for the festive season, we want to be a part of their celebration and make it bigger & better for them,” stated MobiKwik Co-Founder and Director Upasana Taku. “Our users will now be able to transact seamlessly with e-cash, even at their local grocery stores, apparel or eating joints. To promote adoption among the unorganised retail merchants, we have announced 0 percent TDR. We are certain that by the end of this year, we will be able to significantly increase the number of unorganised retail merchants on our platform.”
Last week the fintecher launched a UPI (Unified Payments Interface) on its platform enabling users access to online payments with added services including netbanking, wallets, and credit/debit cards. MobiKwik also entered into a partnership with ICICI Bank, allowing users to add money into their wallet with the new UPI.