MobiKwik, a FinTech company, has collaborated with e-commerce majors including Flipkart, ixigo, Snapdeal, Confirmtkt amid the global Covid-19 pandemic in a bid to help Indians go digital. MobiKwik Biller Stack is a new product for partners like ixigo who would like to launch the ‘Bill Payments’ category on their mobile apps.
Using the MobiKwik Biller Stack, partners like Flipkart can enable their users to pay utility bills seamlessly on their app, the fintech company noted.
By powering Bill Payments on partner apps, MobiKwik aims at ensuring seamless digital payment for fundamental needs including electricity, TV, mobile recharge, among others.
The company stated that it has clocked ₹50 crore in gross merchandise value (GMV) within 90 days of launch (in March 2020) of the MobiKwik Biller Stack.
MobiKwik Biller Stack was launched first with Flipkart in March this year, followed by other partners ixigo, Snapdeal, Confirmtkt in April and May.
The Biller Stack uses a web application that is easily displayed within a partner's mobile app. From a user experience point of view, the Biller stack replicates the same UX that MobiKwik uses. The user selects a use case such as DTH (TV top-up), chooses a biller such as TataSky, and enters their account number and amount to be paid. The user can complete the transaction choosing from multiple payment options - wallet, credit card, debit card, UPI, digital credit and pay later, MobiKwik mentioned.
Commenting on the partnerships, Upasana Taku, Co-founder & COO, MobiKwik said,“Launching MobiKwik Biller Stack during Covid-19 was extremely important to us because of its 3X impact - its ability to positively impact millions of Indians, its ability to impact our partners’ businesses positively during Covid-19 and thirdly and its ability to positively impact our business.”
She added: “MobiKwik has always kept the user at the centre of everything, and we are glad that this new product has already touched millions of Indian lives. MobiKwik Biller Stack’s performance, so far, demonstrates our ability to drive payments innovation at scale and further strengthens our position as a partner of choice.”
Talking about the partnership, Aloke Bajpai, CEO & 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 2/3 cities. ixigo is used by millions of daily users in small towns across India and we are glad to partner with MobiKwik to offer greater convenience to pay utility bills, from the comfort and safety of one’s home. This deepens our existing partnership with MobiKwik on payments to now offer our users a seamless experience to pay 300+ billers at their convenience.“