Digital wallet provider MobiKwik registers five lakh offline transactions in three months

Payments solution provider MobiKwik has registered five lakh brick-and-mortar store transactions through it digital wallet, three months after launching the service to users.

The company in a statement said that the gross transaction value for the wallet-to-store payments was Rs 60 crore, while one lakh of the total transactions happened across retail chain Big Bazaar's 260 outlets.

"We want to remove the barriers posed by traditional forms of payment and our expansion in offline space is one of the ways forward in that direction," said Bipin Preet Singh, Founder and CEO, MobiKwik.

Digital payments players have recently shown a lot of interest in the space to enable payments at offline stores.

Leading digital wallet payments provider Paytm recently launched a QR code-based offline payments feature for its app, while digital POS device maker EzeTap has partnered with Paytm, MobiKwik, Freecharge and Novopay to allow customers to pay at stores using these digital wallets.

Offline payments seem to be a lucrative business for digital wallet providers, with MobiKwik claiming the average ticket size of offline transactions being more than Rs 1,000.

MobiKwik plans to have a network of over 100,000 merchants across the country who will serve as both, points for users to load cash into their wallets and places that will accept digital wallet payments.