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MobiKwik to invest Rs 80 cr in marketing, promotion to boost transactions

We are currently seeing three million daily transactions on our platform: MobiKwik

Press Trust of India  |  New Delhi 

MobiKwik
Mobikwik is also focusing on bringing more people onboard from tier I, II and III regions

Digital payments firm plans to invest Rs 60-80 crore in and promotions in the next six months as it looks to drive transaction volumes on its platform and get more consumers onboard.

MobiKwik, which competes with the likes of Alibaba-backed and Flipkart's PhonePe, also expects to see 2.5X growth in daily transactions on its platform.


"We have seen a phenomenal growth, especially during the ongoing festive season. We have a lot of activities going on that will continue till January. In the next six months, we are looking at a ATL-BTL (and promotions) spend of Rs 60-80 crore," Vice President Akash Gupta told PTI.

Post demonetisation, in November last year, there has been a massive growth in digital transaction volumes in India, including credit/debit cards, mobile banking/m-wallets and UPI.

like and have also seen manifold growth in transactions as well as new users coming on board.

"We are currently seeing three million daily transactions on our platform. With the initiatives and benefits being offered, we expect this number to grow to 7.5 million by the end of our festive promotions," Gupta said.

The company is also focusing on bringing more people onboard from tier I, II and III regions.

"A bulk of our customers are currently from the top 8 cities. We are trying to get consumers outside these cities to transact digitally and use our platform to do so," he said.

has raised over $85 million in from investors like South Africa's payments major Net1, Sequoia Capital, American Express, Tree Line Asia and Investments.

In August this year, had said it will pick up nearly 11 per cent stake in for about Rs 225 crore.

First Published: Sun, October 08 2017. 16:00 IST
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