MobiKwik Eyes Higher Share of Wallet in Travel; Collaborates with Leading Airlines and OTAs

Date:

Trending

Eminent airline partners include Vistara, SpiceJet, and Indigo

- Advertisement -

Major online travel companies on-board are ixigo, MakeMyTrip, Goibibo, EaseMyTrip, Yatra, AbhiBus, Zing Bus

MobiKwik, one of the largest mobile wallets and the largest Buy Now Pay Later (BNPL) FinTech company in India, has announced a collaboration with renowned partners in the travel, tourism and aviation industry for seamless and convenient payment experience for travelers. Users will be able to book travel via air, train, bus, road and their stay at hotels using MobiKwik wallet in just a few simple steps. In addition, users will be able to leverage the benefits of Buy Now Pay Later (BNPL) service MobiKwik Zip and cashback offers.

- Advertisement -

MobiKwik has partnered with renowned merchants such as Vistara, SpiceJet, and Indigo in airline, online travel aggregators such as ixigo, MakeMyTrip, Goibibo, EaseMyTrip, Yatra, AbhiBus, Zing Bus and car rental agencies such as Savaari, Drive U, Rapido, Blusmart, and Meru Cabs for a well-rounded experience to its users.

Commenting on the announcement, Chandan Joshi, Co-founder, and CEO, Consumer Payments, MobiKwik said, “Digital wallets have emerged as the preferred mode of payment for online transactions. Consumers today are looking for convenience, speed of execution coupled with value added benefits while making online purchases. At MobiKwik, we understand the consumers’ preferences and pain-points in their daily life payments – grocery, shopping, travel, insurance, etc. By collaborating with leading airlines and travel aggregators, we take one step closer on our mission of delivering seamless customer experience and becoming the Digital Bank for 500 million digitally savvy Indians.”

He further added, “Our travel segment has witnessed 60% growth as compared to the corresponding period last year, and we expect it to further grow significantly with the help of leading partners.”

Speaking on the partnership, Deepak Rajawat, Chief Commercial Officer, Vistara said, “The customer expectations over the years have changed, they now expect quick flight options available on their mobile screens to instantly pay and fly. MobiKwik is making all this possible for the new-age travelers by offering seamless payment options. This is an exciting time for the travel enthusiasts since vacation time is around the horizon, we couldnt be more excited about this collaboration with MobiKwik to offer nothing but the best to the customers.”

Echoing similar sentiments, Nitin Gurha, VP Business & Partnerships, ixigo said, “The pandemic has changed payment preferences of consumers, especially for Gen Z and millennial travelers who prefer digital wallets and other fast payment methods while purchasing tickets. Together with our strategic partnership with MobiKwik, we are offering fast and convenient payment options, as well as enticing travel deals and cashback offers to all our existing and new users. Our collaboration will help ixigoers get the best value for their time and money.”

Using MobiKwik wallet, the customers who make travel-related reservations for upcoming summer vacations or long weekends will be able to enjoy a range of benefits. They can also earn cashback up to INR 125 on bus bookings, going up to INR 700 for domestic air travel and hotels. The discount and cashback are instantaneous and will allow users to save more and manage their travel budgets efficiently. The cash back offers are valid from 1st April 2022- 30th May 2022.

About MobiKwik

MobiKwik is one of the largest Mobile Wallet and Buy Now Pay Later (BNPL) Fintech companies in India. Founded in 2009, MobiKwik commenced operations as a Mobile Wallet and has since expanded its product offerings to Buy Now Pay Later, Payment Gateway, Wealthtech & Insurtech. Its tech platform has over 120 million Registered Users, 25.3 million pre-approved BNPL users, and more than 3.4 million merchant partners.

The company launched MobiKwik Zip, its flagship BNPL product in 2019 to provide the fast-growing digitally paying Indians their first credit experience. The company believes that BNPL for daily life payments is the only way to deliver financial freedom to millions of Indians.

Disclaimer: ONE MOBIKWIK SYSTEMS LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed a draft red herring prospectus dated July 12, 2021 (“DRHP”) with the Securities and Exchange Board of India (“SEBI”) on July 12, 2021. The DRHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com,respectively, and is available on the websites of the BRLMs i.e. ICICI Securities Limited, BNP Paribas, Credit Suisse Securities (India) Private Limited, IIFL Securities Limited and Jefferies India Private Limited at www.icicisecurities.com, www.bnpparibas.co.in, www.credit-suisse.com/in/en/investment-banking-apac/investment-banking-in-india/ipo.html, www.iiflcap.com and www.jefferies.com, respectively. Bidders should note that investment in equity shares involves a high degree of risk and for details relating to the same, please see the section entitled “Risk Factors” that will be included in the RHP. Potential Bidders should not rely on the DRHP filed with SEBI for making any investment decision.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) in transactions exempt from the registration requirements of the U.S. Securities Act, and (b) outside the United States in offshore transactions as defined in and in compliance with Regulation S and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering in the United States.

THE SNAPSHOTS

Sign up to get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Support our independent journalism PayPal (Outside India) For PayU (For Indian Readers).

More Latest Stories

More Articles

INTERVIEW: ADDA’s Krishanu Mukherjee on Transforming Gated Communities

In an interview with TechGraph, Krishanu Mukherjee, AVP of Growth at ADDA.io, explained how its platform’s deep understanding of local compliance and hyper-local needs...

Choosing the Right Tax Consultant: A Guide for Businesses and Individuals

For both individuals and businesses, tax planning and compliance are crucial aspects of financial management. Selecting a reliable tax consultant demands careful consideration of a number of aspects, especially in the global marketplace of today since tax laws and regulations may differ substantially across...

Life Insurance Death Benefit Payouts: What Your Family Needs to Know

It is important to know more about life insurance policies and their operational modalities....

Wired vs. Wireless Headsets: A Comparative Guide for Evolving Audio Needs

Across a wide range of demographics, including gamers, fitness enthusiasts, business executives, and remote...

Union Budget 2025: Real Estate Experts See SWAMIH 2.0, ₹15,000 Cr State Support to Ease Housing Bottlenecks

The real estate sector views the Union Budget 2025-26 as a step toward addressing...

Union Budget 2025-26 Reactions: EV Makers Welcome Tax Relief and Infrastructure Investments

India’s electric vehicle industry has welcomed the Union Budget 2025-26, citing exemptions on capital...

Preparing Your Staff To Host A Successful Business Event In Another City

A business event, a convention, and exhibition, a trade show - all of these...

TradeFT Review: Comprehensive Platform Overview 2025

The financial markets are abuzz with some pretty exciting developments as 2025 gets underway,...

The Rise of Conversational AI: What It Means for Tech and SaaS Businesses

Back in the time, when AI was not as prominent, businesses used to struggle a lot. One of the biggest challenges was to rely...

Income Tax Slabs Revised in Budget 2025-26: Experts Applaud Relief for Salaried Class, VDA Taxation Still a Concern

With income tax exemption raised to ₹12.75 lakh and revisions in tax slabs, the...

Union Budget 2025-26: MSME Leaders Back Investment Limit Hike, Call E-Shram Expansion Crucial

The MSME sector has responded positively to the Union Budget 2025-26, with experts highlighting...

Evolution of Festival Advertising – A journey from Traditional to Hyperlocal Strategies

When it comes to festival advertising, brand strategies have seen notable changes shape the...

Union Budget 2025-26 Reactions: Education Sector Applauds AI, Skilling Initiatives but Flags Funding Gaps

India’s education sector leaders have responded to the Union Budget 2025-26 with optimism and...

Union Budget 2025: India’s AI Budget Allocation Stirs Mixed Reactions

India’s Finance Minister Nirmala Sitharaman's announcement of a ₹500 crore fund for a Centre of Excellence (CoE) on AI in education has drawn mixed...

Union Budget 2025: Investors, Startups React to Govt’s Push for Fund of Funds, FSS Scheme and Deeptech

The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman on Saturday, has drawn various reactions from investors and the startup community. The ₹10,000 crore Fund of Funds (FoF) announced in the budget has been welcomed by many as a significant step in strengthening...

Union Budget 2025: Medical Education Seats Increased by 130% in 10 Years; 10,000 More to Be Added

Education sector Budget LIVE: Presenting the Union Budget 2025-26, Finance Minister Nirmala Sitharaman announced...

Union Budget 2025: Kisan Credit Card Loan Limit Increased to ₹5 Lakh Under Modified Interest Subvention Scheme

Finance Minister Nirmala Sitharaman, in her Union Budget 2025-26 speech, announced an increase in...

Cash out Tether USDT to Renminbi in Guangzhou

If you need to quickly and safely Cash out Tether USDT to Renminbi in...

Union Budget 2025 Expectations: Insurance Sector Eyes Tax Incentives, Sops to Expand Health Insurance Reach

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2025 on February...

Union Budget 2025: Farming, Agriculture Sector Pushes for Greater Subsidies, Policy Support

With Union Budget 2025 just days away, the agriculture sector is vouching for a...

Budget 2025: Pre-Owned Car Market Requests Financing Reforms, Auto Industry Looks for GST Clarity

With the Union Budget just days away, the auto sector is hoping for game-changing...

Budget 2025: Tax Reforms, Infrastructure Financing, and NBFC Support Top Budget Wishlist

As Budget 2025 approaches, experts from the NBFC, finance, and business sectors are voicing...

Adoption of Low Code Platforms by MSMEs for Operational Efficiency of Their Supply Chains

Micro, small, and medium enterprises are the backbone of the world and account for...

IIFL Finance Thane Branch Raided by Income Tax Authorities

The Income Tax Department carried out a search operation on Tuesday morning at IIFL...

Evolution of Festival Advertising – A journey from Traditional to Hyperlocal Strategies

When it comes to festival advertising, brand strategies have seen notable changes shape the...

Union Budget 2025: IIT Student Strength Doubles, ₹500 Crore AI Education Center Announced

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025-26 in Parliament today, outlined...

Union Budget 2025 LIVE: FM Sitharaman Announces Reforms in Finance Sector; Increases FDI Limit to 100%

Finance Minister Nirmala Sitharaman, while presenting the Union Budget for 2025-26 in Parliament today,...

AI in Skill Development: What Budget 2025 Should Do to Close the Workforce Skills Gap

India, with its vast pool of young talent, faces a significant challenge: a widening...

Union Budget 2025 Expectations: Hospitality Sector Urges Budget Support for Tourism Growth and Workforce Development

With the Union Budget 2025 on the horizon, hospitality sector leaders are calling for...

Union Budget 2025-26 Reactions: Education Sector Applauds AI, Skilling Initiatives but Flags Funding Gaps

India’s education sector leaders have responded to the Union Budget 2025-26 with optimism and...

Adoption of Low Code Platforms by MSMEs for Operational Efficiency of Their Supply Chains

Micro, small, and medium enterprises are the backbone of the world and account for...

Krikya Bangladesh Casino App Review

The Krikya app delivers a seamless and engaging mobile gambling experience for users of...

IIFL Finance Thane Branch Raided by Income Tax Authorities

The Income Tax Department carried out a search operation on Tuesday morning at IIFL...