MobiKwik to achieve 10bn GMV by 2017
MobiKwik has witnessed an over 40% increase in app downloads within less than 18 hours of the announcement of Rs 500/ Rs 1,000 currency notes being withdrawn. Additionally, user traffic and merchant queries went up by 200% among its over 35 mn users. The company has also revised its business targets and targets to achieve a GMV of 10 bn by 2017.
It is further promoting adoption by offering 0% TDR for all unorganized offline merchants. MobiKwik has over 100,000 merchants on its platform including Big Bazaar, Big Basket, Grofers, Ezone, Dominos Croma, Pantaloons, Star Bazaar, Oyo Rooms, MakeMyTrip, Swiggy, FoodPanda and ZopNow.
The company has many firsts to its credit, including the Nearby service by which users can locate outlets where MobiKwik e-wallet is accepted within the app and cash loading for mobile wallet through both cash pick-up and cash deposit.