After Big Bazaar and WH Smith, Walmart is the third major retailerto partner with mobile payment solution provider MobiKwik to power 20 of its Best Price Modern Wholesale stores in nine Indian states.
Under this partnership, MobiKwik will be the exclusive mobile payments partner to Walmart, offering members of its Best Price programme, which comprises small businesses and ‘kirana’ stores a secure, swift and convenient payment option across channels, the company said in a release.
“With this partnership, together Walmart and MobiKwik are bringing the power of mobile payments to the lakhs of small businesses and kirana stores in India, ” said MobiKwik founder and CEO Bipin Preet Singh.
“Besides making payments via the wallet, Best Price members who use MobiKwik will get refunds and incentives from Walmart ‘instantly’ in their wallets. Members will also be able to load cash into their MobiKwik Wallets to make purchases via the Best Price mobile app,” he added.
The MobiKwik mobile payment solution will allow instant one-tap payments for transactions placed through the Best Price mobile app, and will also allow its users to make payments via the MobiKwik wallet on the Walmart Best Price website and in the physical stores, the company said.
About the app used in Walmart’s outlets, Walmart president and CEO Scott Price said, “Our new mobile app will give Best Price members a personalized and seamless shopping experience.We understand not just what customers want and need, but also where they want it and how they want to experience it. With our size and scale in India, we can serve customers quickly and more effectively with the whole range of channels we are offering.”
Until recently, Mobikwik’s services were limited to online transactions, phone recharge, bills payment, and money transfers. However now, the company is focusing on expanding its offline presence.