Mobikwik targets Rs. 600 crore GMV in 2017 from oil and gas sector

Indian mobile wallet major MobiKwik has announced zero surcharge on all transactions at petrol pumps and on LPG gas payments.

MobiKwik is currently accepted across petrol pumps and gas stations in top 20 cities in India. These include all major Indian Oil, Hindustan Petroleum and Bharat Petroleum pumps in Delhi NCR, Mumbai, Hyderabad, Ahmedabad, Vijaywada, Pune, Indore, Bhubaneshwar among other leading cities.

The company also powers digital payments for LPG companies like Indane, Bharat Gas and HP.

"The adoption of digital payments is observing record growth post demonetization and even though the cash situation is stabilizing, masses in India have developed the habit of paying cashless. It is our constant endeavor to identify and promote daily life use cases that drive adoption of our wallet. The announcement of zero surcharge on all petrol pumps and LPG transactions will benefit consumers and will motivate them to continue using digital payments," said cofounder MobiKwik, Upasana Taku.

She also shared that the company is targeting Rs. 600 crore GMV in 2017 from oil and gas sector. MobiKwik is targeting to achieve the GMV of Rs. 68,000 crore in 2017.

The company currently has a network of one million merchants and 45 million users. Post demonetization, MobiKwik has also launched a lighter version of its app named, MobiKwik lite in Hindi, English and Gujarati that has helped the company in extending its offerings to tier II and tier III cities across India.