About MobiKwik
Incorporated in 2009, One MobiKwik Systems Limited, popularly known as MobiKwik is a platform business at its core, that has a two-sided payments network, consisting of consumers and merchants where the company provides access to various payment use cases as well as financial products in the digital credit, investments, and insurance verticals. The company’s operations are divided into two distinct businesses: (i) Payments and (ii) Financial Services.
Payments Business: The following are the payment services products of the company (via UPI, MobiKwik Wallet, cards, and pay-later):
- Recharge and Bill payments: Consumers can search for the relevant utility services and pay their bills, such as mobile recharges, electricity bills, Fastags, credit card bills, etc;
- Payments at online e-commerce merchants;
- Payments at offline Merchants like organized retail and fuel pumps; and
- Transfer money to any other phone number, contact, UPI ID, or bank account. Consumers can also check their bank balance, scan QRs to pay others, or pay via bank or Rupay credit through UPI.
Financial Services Business: The following are the Digital Credit products of the company:
- MobiKwik ZIP: Pay-later product with a 30-day interest-free credit line; and
- ZIP EMI: Personal loan that is required to be repaid in instalments.
The following are the investment products of the company:
- Lens: Personal financial management using banking data;
- Xtra: Alternative Investment product offered by their lending partner; and
- Distribution of Mutual funds and Digital Gold