MobiKwik has launched Unified Payments Interface (UPI) on its platform via its own VPA (Virtual payment address) handle @ikwik. Thus, MobiKwik becomes the first in the industry to offer UPI access to a huge base of 3 million merchants on its app.
MobiKwik is amongst the first few in the industry to offer Bharat QR, UPI QR and intent functionality for merchant payments. Additionally, all the MobiKwik users will be able to do P2P bank transfers using UPI. MobiKwik’s UPI app is 100% in compliance with the NPCI guidelines. MobiKwik is the most secured UPI app till date, as per NPCI.
Offers Bharat QR, UPI QR and intent functionality for merchant payments.
Elated, Mr. Bipin Preet Singh, Founder and CEO, MobiKwik, said, “Our strength lies in user experience, the wide network of merchants and the numerous daily life use-cases we power. MobiKwik will be the first player of scale to include all interoperable features in its UPI launch app. We believe that with UPI on our platform, we will be able to empower our users with the power of transferring between bank accounts in an extremely safe and simple manner.”
With this roll out, the company is expecting a reduction in the usage of debit cards and internet banking on the MobiKwik app, as UPI will offer a better user experience. Keeping in mind the reach on the merchant side, MobiKwik will be adding more payment options for the benefit of users in the times to come.
Safety has been given utmost priority in MobiKwik UPI app and users can be rest assured about their data security, even in case of loss of SIM or device.
Promoted by the Government of India, UPI powers multiple bank accounts into a single mobile application of any participating bank, merging several banking features, aimed at offering seamless routing of fund and merchant payments from this single platform.