Mobikwik, Freecharge start wallet on delivery services

mobiqwikAs the e-commercial sector is facing issues with the money demonetization, the E- payment platform MobiKwik and Freecharge have forward with methods that can be helpful for the e- tailers.

Mobikwik said it will offer ‘MobiKwik on delivery’ option for e-tailers to replace ‘Cash on Delivery’ and overcome the challenges being faced by the phasing out of Rs. 500 and Rs. 1000 notes.

“MobiKwik on delivery, will address the challenges being faced by e-tailers in operating the cash on delivery service. Users can pay with MobiKwik, after receiving the delivery of their products.”, said, Mrinal Sinha, COO, MobiKwik.

MobiKwik currently supports cashless payments at Myntra, Jabong, Big Basket, Grofers, ZopNow and many other leading online retailers.

The service is being offered by MobiKwik, pan India and e-tailers can add ‘MobiKwik on Delivery’ to their platform right away.

MobiKwik also registered over 2000% increase in add money since the announcement of currency notes ban. The company has seen tremendous growth in merchant requests and user transactions as well.

Snapdeal, which owns Freecharge, said it launched a new feature –Wallet on Delivery– to allow users to pay on delivery by using their FreeCharge wallet.

This feature serves two important needs for online customers – allows users to make the payment only when their package is delivered and simultaneously removes the need to handle cash and find the exact change for pay for the delivery.

The launch of Wallet on Delivery is a quick and effective solution to all user concerns about Cash on Delivery, especially given the current uncertainty about availability of currency notes, the company said.

The Wallet on Delivery will be available beginning 10th November 2016 and in a progressive roll out and will cover Snapdeal and FreeCharge users across the country over the next few weeks.

The FreeCharge wallet is widely used across the country to pay for utilities, cab rides, metro, phone recharges, electricity, etc.

FreeCharge is also used at over 100,000 online and offline merchants like Bookmyshow, Swiggy, Zomato, Shoppers Stop, McDonald’s, Cafe Coffee Day and others.

The boldest initiative till date came as a surprise on November 8, 2016, when Prime Minister Narendra Modi announced phasing out of Rs 500 and Rs 1000 currency notes. However, the move has been well accepted by users and merchants across India and will be a milestone in addressing the black money issue in India.

MobiKwik is a mobile wallet and online payment system where a user can store money in an online “wallet” to make mobile and DTH recharge, pay utility bills, and shop at listed merchants.

Snapdeal was started in February 2010 by Kunal Bahl and Rohit Bansal. Today Snapdeal is among the largest online marketplaces in India with 65 million plus products across 1000 categories from over 125,000 regional, national, and international brands and retailers.