Send or Receive money to any bank account or mobile number for FREE with MobiKwik
November 14, 2016: In the wake of challenges being faced by masses in India due to demonetization, MobiKwik, India's largest independent digital wallet has announced that users will be able to transfer money instantly to any bank account at 0% fee. The move is expected to encourage more and more retailers, shopkeepers and users to use mobile wallet and overcome the challenges that they are facing in procuring and using cash.
Speaking on the announcement, Bipin Preet Singh, Co-founder of MobiKwik said, "We support Indian government's bold currency reform, that is a long term move to eliminate black money and corruption in India. However, masses are facing issues in procuring and transacting with cash. To help them overcome this challenge, we have announced 0% fee on bank transfers."
Earlier, to transfer money from a mobile wallet to the bank, a non KYC user was charged 4% fee and the fee for a KYC user was 1%.
The company has launched a user support number that is operational 24x7. Users can call on +919029059700 to download MobiKwik app and start sending or receiving money for free.
The company has registered 18x growth in transactions since the announcement of demonetization.
MobiKwik payments are even easier than cash payments and users can register instantaneously using Truecaller. They can also find nearby merchants using the 'nearby' feature on the app, that was launched earlier this year.
Users can load money using their credit/debit cards or netbanking. They can also convert their Payback points, earned from ICICI bank debit/credit cards, Big Bazaar, Central, HP Petrol Pumps, MakeMyTrip, eBay, BookMyShow and American Express; and reward points earned from SBI, Bank of India, Punjab National Bank, Central Bank, Canara Bank, Union Bank & Bank of Baroda to MobiKwik cash.
About MobiKwik:
MobiKwik, is India’s largest independent mobile payments network, connecting 35 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, Cisco Investments and Net1. 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. For further details, please contact:
