MobiKwik is in the process of reworking its business model as the future of mobile wallets is being increasingly questioned with the emergence of simple Aadhaar-based simple payment systems. A week ago, MobiKwik came up with Supercash, the first-ever cashback-cum-loyalty programme launched by a mobile wallet in India where users get benefits on every transaction, earning reward points from all MobiKwik merchants. To prevent users from moving out of the MobiKwik ecosystem, the Gurugram-based pure-play digital wallet is also planning to offer the whole suite of financial services. At a time when Aadhaar-based biometric payment systems are being actively promoted by the government that make digital transactions much easier, digital wallets need to rediscover themselves. "We launched ourselves as a digital wallet player in 2009 while the push by the government is only coming now in 2016.

Source: dna March 03, 2017 01:41 UTC