MobiKwik & ICICI Bank partner to load cash into mobile wallet
Indian mobile wallet company MobiKwik has teamed up with ICICI Bank to allow users add direct cash to their mobile wallet through the bank.
The partnership will enable the bank to collect cash payments from MobiKwik through any of the bank’s 4,000 branches in the country.
Users can load cash into their mobile wallet and make easy payments as well as transfer money to their family and friends. The partnership will benefit over 17 million existing MobiKwik customers and millions of new users.
In order to load cash in the wallet, users have to select CashPay on MobiKwik’s app and enter the amount and their name. Later, the app will generate a unique Order ID and provide the user with contact details of the nearest ICICI Bank branches. Users can use the regular cash deposit slip to load cash to their wallets.
This service, which is currently live in Delhi-NCR, is expected to be launched to other cities in India soon.
MobiKwik founder and CEO Bipin Preet Singh said: “This is a big step for us in our vision to have over 100 million users by the end of 2015.”