MobiKwik Wallet, one of India’s popular digital/mobile wallet brands enables users to pay their mobile recharges and bill payments, shop on various merchants along with being able to send and receive money from friends.
In a move to expand their offerings to the 17 million users, in March, MobiKwik partnered with Payback, a multi-brand loyalty program as a means to increase their footing in the loyalty and bonus point redemption segment.
Following Payback, Pennyful and GoPaisa, two similar cashback and discount coupon players have also come on board with MobiKwik this week.
With these partnerships in place, users can now redeem their virtual points collected on Pennyful and GoPaisa, on MobiKwik and use them across more than 50,000 leading offline and online merchants that are a part of the MobiKwik ecosystem.
Bipin Preet Singh, Founder and CEO, MobiKwik said, “We aim to be the platform of choice for customers when it comes to redeeming any kind of loyalty or bonus points. Our seamless transaction experience and wide network of merchant tie-ups make us the preferred partner for all cashback and loyalty program players in the country.”
MobiKwik has seen huge uptake from the three-month-old partnership with over one lakh Payback customers having redeemed around five crore Payback points worth Rs 1.25 crore on the MobiKwik wallet. Payback has also benefitted from the partnership with over two lakh MobiKwik users having signed up on Payback till now.
Keen that more players partner with MobiKwik in the future, Bipin stated, “While for loyalty and cashback players we become a source of millions of additional users, for us it makes sense from a product standpoint to tie up with them as it’s in alignment with our core philosophy of providing consumers a ‘more-than-a-wallet’ experience. Physical wallets are only good for storing loyalty cards, but with MobiKwik users now get to instantly redeem their points as well. We look forward to striking more partnerships going ahead and aim to be the default choice for consumers intending to redeem any kind of virtual points.”