You are here: Home » Companies » News
Business Standard

Indusind Bank launches co-branded wallet with MobiKwik

MobiKwik app is a leading mobile payment platform with a network of over 20,00,000 direct merchants and 65 million plus users

Press Trust of India  |  New Delhi 

IndusInd Bank

IndusInd Bank, in association with MobiKwik, on Monday announced the launch of a co-branded wallet 'IndusInd Mobikwik' that allows its customers to pay at the merchant network using their accounts, with a 'Direct Debit Feature'.

The direct debit feature will allow account holders to link their accounts just once and pay using the co-branded app as and when required, thereby eliminating the need to load the prepaid wallet separately.


"The is authorised with an additional factor of authentication, in line with mobile guidelines," a release said.

Ritesh Raj Saxena, HeadSavings, and Payments Business, said the partnership with is to leverage the synergies in the payments business between banks and fintechs, to bring the customers the best of both worlds in a seamless fashion.

"The latest PPI guidelines of RBI reinforce the roadmap for wallet operators and partnerships with banks...," he said.

As on September 30, private sector lender had 1,250 branches and 2,146 ATMs spread across 690 locations in the country.

Upasana Taku, co-founder, said this special wallet created by will enable 10 million customers to "easily perform payments by seamlessly transferring money from their accounts to the merchant, at the press of a button without loading money in their wallet".

app is a leading mobile payment platform with a network of over 20,00,000 direct merchants and 65 million plus users.

First Published: Mon, October 23 2017. 22:50 IST
RECOMMENDED FOR YOU