Home-grown mobile wallet company MobiKwik has witnessed an 1800 percent increase in transactions in Jaipur and 200 percent increase in user base from the city.
The company has a merchant base of over 150000 and is known for its simplest user interface.
"We have witnessed tremendous growth in Jaipur since demonetization was announced by the government of India. It is encouraging to see the growing adoption of MobiKwik wallet in the city," said Co-founder MobiKwik, Bipin Preet Singh.
"Jaipur has been one of the most important cities for us and we also launched our cash pick up service in Jaipur only, after the major metros," added Bipin.
MobiKwik payments are even easier than cash payments and users can register instantaneously using Truecaller.
They can also find nearby merchants using the 'nearby' feature on the app that was launched earlier this year.
Users can load money using their credit/debit cards or net-banking. They can also convert their Payback points, earned from ICICI bank debit/credit cards, Big Bazaar, Central, HP Petrol Pumps, MakeMyTrip, eBay, BookMyShow and American Express; and reward points earned from SBI, Bank of India, Punjab National Bank, Central Bank, Canara Bank, Union Bank and Bank of Baroda to MobiKwik cash.
The company has registered 18 times growth in transactions since the announcement of demonetization.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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