18 Dec 2016

Rishabh Tripathi

MobiKwik Announces Tie Up With 30 Lakh Street Vendors In The Country

 Digital payments company mobiKwik on Thursday announced their partnership with NASVI, an organisation representing over 30 lakh street vendors from 25 states across India. The emphasis lies in empowering more merchants to accept digital payments through the MobiKwik platform.


Following the demonetization small vendors have been affected badly and their business to a larger extent and if they have to cope up with the recent cashless environment they have to switch to digital payments. According to  Arbind Singh, Founder of NASVI, "Due to demonetisation, street vendors all across India have lost 70 percent of their business, affecting them badly. Thus, NASVI has partnered with MobiKwik to provide the solution and make them aware of the cashless economy. The partnership will be a great help to them at this time of cash crunch, as it will allow them to receive payments and keep their businesses going."

Its not the first move that company has taken in affect of the cashless India. Earlier , in last week of November company has launched the lighter version of their wallet under 1 MB in size, the app — built to work smoothly even on EDGE connections — was built to address the underserved smartphone users in India, who face challenges of slow data connectivity and are thus unable to access digital payments easily. 

Speaking on the partnership Upasana Taku, Co-founder of MobiKwik said "This association is imperative for us to support street vendors by educating them about various e-payment options available to receive payments from customers. We will train 10 lakh street vendors in three months to enable them to transact digitally. MobiKwik payments will soon be accepted by 30 lakh street vendors in 25 states directly.” . The company has claimed that there has been a 200% increase in its app's downloads post demonetisation. At present, the firm claims to stand at over 250,000 direct merchants and more than 40 million users.
On the other end, PaytmMobiKwik’s arch rival, is reported to have a network of 1.5 million offline merchants.  Also, Freecharge, which just today announced their partnership with Hyderabad-based payment solution provider Paynear, is looking to add another 15,000 merchants across 22 states in India.