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MobiKwik expands reach to online grocery market

  • Mobile payments bank MobiKwik has tied up with four online groceries
    players to aid its 25 million consumers to make payments more conveniently.
  •  
  • “Now users can start paying for their grocery purchases at Grofers,
    BigBasket, MeraGrocer, and GrocerMax using MobiKwik wallet. Most MobiKwik users
    make 10 purchases every month using their wallet balance across diverse use

    • Mobile payments bank MobiKwik has tied up with four online groceries
      players to aid its 25 million consumers to make payments more conveniently.
    •  
    • “Now users can start paying for their grocery purchases at Grofers,
      BigBasket, MeraGrocer, and GrocerMax using MobiKwik wallet. Most MobiKwik users
      make 10 purchases every month using their wallet balance across diverse use
      cases such as recharge, bill payments, food, travel & cabs, shopping, and
      entertainment,” MobiKwik said in a release.
    •  
    • Image result for MobiKwik
    •  
    • According to research firm IGD, India’s online grocery market, estimated
      to be less than $100 million at present, will cross $25 billion by 2020. It is
      expected to overtake Japan to become the third-largest market globally by 2016,
      the research firm said.
    •  
    • “The explosive growth of hyper-local grocery app is testament to
      the fact that convenience and speed are two key attributes that drive user
      behaviour today. Now that MobiKwik wallet is live across all the big players in
      the grocery app segment, users would find the purchase experience become all
      the more faster and convenient,” said MobiKwik founder and CEO Bipin Preet
      Singh.
    •  
    • “A smooth payment experience is key to the success of m-commerce.
      Customers tend to tire of re-entering payment information and that leads to
      high rates of sales abandonment. MobiKwik’s 1-tap payments do away with those
      hassles,” he added.
    •  
    • MobiKwik has so far raised close to $30 million in funding till now from
      Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments. The
      company plans to raise another $50-$100 million in 2015.

     

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