Tuesday 18 August 2015

MobiKwik ties up with StoreKing to digitise rural India

Mobile wallet service provider MobiKwik has partnered with Bangalore-based StoreKing to provide cash-less and card-less payment management to 10,000 retail stores in small towns and villages in southern states of the country.

The partnership aims to benefit 10 million rural users in 600 small towns and 5,000 villages across the states of Karnataka, Andhra Pradesh, Telangana, Tamil Nadu, Kerala, and Goa, Mobikwik said in a release. StoreKing is an assisted e-commerce platform that partners with a network of kirana stores located in rural areas to establish a tablet-based wireless internet connected point-of-sale terminal. As a result of this partnership, the users will also be able to make payments for online purchases on the StoreKing e-commerce platform.

"With this partnership, we are extending the reach of MobiKwik wallet to rural India and breaking barriers presented by traditional payment methods. Rural Indians no longer have to wait for banks to reach them, to open an account or to transact. They just need to download our app to kick-start their digital payments journey,” said BipinPreet Singh, Founder CEO, MobiKwik.

According to a report by PwC, the number of rural e-commerce Internet users is growing by 58% annually, fuelled by the increase in the number of smartphones and 3G subscriptions. MobiKwik and StoreKing’s partnership is a significant step in driving the inclusion of rural Indian users into the e-commerce fold. 

The 10,000 retail stores will be trained to help rural users download the MobiKwik mobile app and add cash to it to buy goods. Tablet-based terminals will provide access to StoreKing’s e-commerce platform. MobiKwik’s mobile payment solution will allow instant one-tap payments for orders placed on the terminals as well as for in-store purchases. 

Both the companies will also provide free Wi-Fi connections at the stores to enable users to download the MobiKwik app on their phones.

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