Mobile wallet company MobiKwik on Tuesday said that it has processed 5 lakh transactions with aggregate value of ₹ 60 crore in brick and mortar stores. This milestone has been achieved in a span of three months.
There has been a surge in the average ticket size of transactions, with more than ₹1,000 being the norm for offline payments.
Of the total transactions processed offline, as many as 1 lakh transactions have come across all 260 Big Bazaar outlets, involving transaction value of ₹ 12 crore.
Commenting on the milestone, Bipin Preet Singh, Founder and CEO, MobiKwik said that enabling 5 lakh mobile payments in offline space in around 3 months is an “incredible feat” in a nation where about 95 per cent of the transactions still happen in cash.
“MobiKwik’s success reinforces the rapid adoption of cash less modes of payments in India. This acts as a shot in the arm for us and we will build upon this success”, Singh said in a statement here.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.