Gurgaon-based mobile wallet company MobiKwik has launched its ‘Cash Pickup’ service for users to recharge their wallet instantly. The facility is currently available in Delhi-NCR and will soon be available across all major cities in the country.
Mobikwik’s ‘Cash Pickup’ service is a facility that will allow users to add cash in their wallets by paying cash to the company’s agent. This will benefit users who do not have access to any bank accounts, credit cards or debit cards.
Cash Pickup allows anywhere from Rs100 to Rs10,000 to be added to a user’s MobiKwik wallet in real time, the company said.
“Mobile technology is redefining how money works in India and how it exchanges hands. Our new and extremely easy to use cash pickup service, is the kind of innovation that reflects our drive to connect the world of offline to online,” said MobiKwik founder-CEO Bipin Preet Singh, in a statement.
In order to use MobiKwik’s doorstep cash pickup service, users need to visit the CashPay tab on the MobiKwik app and click on ‘Request Cash Pickup’ which will activate the nearest MobiKwik agent. (User’s location can be automatically detected by the app.) The agent will initiate the cash transaction and after the one-time passwprd (OTP) is entered into the agent’s app, the wallet gets recharged.
MobiKwik recently raised close to $25 million in a Series B round from Sequoia Capital, American Express, Cisco Investments, and Tree Line Asia. The company plans to raise another $80- $100 million in 2015.