Mobikwik is counted in the country's leading mobile wallet company . It has been such a platform that has made it easy for the users from mobile recharge to online payment. Mobikwik has made its presence felt among foreign mobile wallet platforms in India . The company claims that more than 100 million users and 3 million businessmen are connected to the platform. Not only this, Mobikwik has also been a part of the Unicorn Club.
Mobikwik's journey started in 2009 from Gurgaon. Bipin Preet Singh, Upasana Taku and Chandan Joshi together laid its foundation. Know how has been the journey of Mobikwik.
This became the need of the people
Movikwik started the service of mobile wallet in India at a time when it was quite new for Indians. This virtual wallet was made capable of being used through multiple channels including mobile, desktop, IVR. From mobile recharge to bus booking facility was provided on this platform.
It has become the need of the people due to providing new facilities at its initial time. As a result, its users increased rapidly. The company continuously issued offers to increase the users. In which many types of offers started being given from cashback to recharge. In this way the users of the company kept on increasing.
The company's strategy that worked
The Mobikwik platform started with its web version, but its official app was launched to provide mobile wallet service to more and more people. With the help of this it became easy to transfer money to the bank, it became convenient to transfer money from bank to mobile. Along with this, with the help of the platform, loan facility was started in a few seconds.
Mobikwik has tied up with many companies including Bajaj Finance, Aditya Birla, DMI Finance to provide loan facility. In this way the company started the facility of 3-minute loan. People liked it very much. The facility of getting loan easily increased the number of users of the company.
Then the company started the exercise of increasing the user base by giving new facilities one after the other. Launched various insurance plans in collaboration with ICICI. This included everything from online fraud protection to dengue insurance. It has become easier for those doing online transactions to avail various types of insurance plans.
Controversies were also associated with the success of Mobikwik. There were also reports of selling data of 100 million users of Mobikwik on the dark web. However, the company flatly denied in this whole matter. The company said that it is ready for investigation.
In May 2020, it was removed from the Play Store for violating Google Ad's policy. However, within a few hours it was restored back.
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