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.