COVID-19 has affected online businesses severely, forcing companies to reinvent in order to keep millions of daily active users engaged in their apps. And it turns out, bill payments is a great way to do so where the user can pay their utility bills digitally.
To this effect, fintech startup MobiKwik announced that it has partnered with ecommerce majors like Flipkart, ixigo, Snapdeal, and Confirmtkt, to help more Indians go digital.
Its new product, MobiKwik Biller Stack is aimed at helping ecommerce companies launch the ‘Bill Payments’ category on their mobile apps so that users can pay their utility bills seamlessly.
Upasana Taku, Co-founder and COO of MobiKwik, said, “Launching MobiKwik Biller Stack during COVID-19 was extremely important to us because of its 3X impact. Firstly, for its ability to positively impact millions of Indians. Secondly, for its ability to impact our partners’ businesses positively during COVID-19. Thirdly, for its ability to positively impact our business.”
MobiKwik Biller Stack will allow these ecommerce companies to enable their users to pay for their electricity, TV, and mobile recharge, digitally. Launched in March 2020, MobiKwik Biller Stack claims it has clocked Rs 50 crore in gross merchandise value (GMV) within the first 90 days.
Aloke Bajpai, CEO and Co-founder, ixigo, said, “With people preferring digital transactions over venturing out of their homes, there has been a spike in demand for online bill payments and recharges, especially in Tier-II and III cities.”
Biller Stack has more than 300 billers covering daily life use cases such as mobile recharge, DTH, electricity, and credit card bill payments, to name a few. It uses a Progressive Web Application, which can be easily displayed within a partner’s mobile app.
Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik competes with the likes of Paytm. It has three key businesses units — digital payments, financial services, and a payment gateway.
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