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MobiKwik offline retail partnership to contribute 50% of GMV

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Mobile payments network MobiKwik has partnered with Archies, Sagar Ratna and Mobilti World as part of it offline retail expansion strategy said the company in a press release.
“It is the rapid adoption of smartphones and mobile e-commerce in India that is rendering physical form of payments a thing of the past. With our rapid, penetrative retail strategy, we want our customers all over India to enjoy the convenience, ease and safety of paying with MobiKwik wallet,” Bipin Preet Singh, Founder and CEO of MobiKwik, said.
The company has existing partnerships with key retailers like BigBazaar, WHSmith, Cafe Coffee Day, and StoreKing.
Read: MobiKwik expands offline network, partners with Walmart
According to the press release, the company is expecting offline payments to contribute 50% of its total GMV over the next 12 months. In the last three months, the company claims to have powered over 5 lakh transactions in brick-and-mortar stores.
The company, which has raised USD30 million in funding from a clutch of investors till now, further aims to tie up with 100,000 retailers under its expansion strategy. Several other brands, including Uber, Domino’s, Pizza Hut, eBay, ShopClues, Jabong, Big Basket, Grofers, BookMyShow use MobiKwik for payments.

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