Tuesday 18 June 2019

MobiKwik partners with DT One for global mobile recharge services

MobiKwik partners with DT One for global mobile recharge servicesNEW DELHI: Fintech platform MobiKwik on Tuesday announced a partnership with DT One, a global B2B network for mobile recharge, rewards and airtime credit services. As per this agreement with DT One, MobiKwik will offer mobile recharge in 150+ countries across more than 550 mobile operators, according to a release. The announcement signals MobiKwik’s foray into international markets.

The “International Recharge” service on MobiKwik app is currently live across 150+ countries in the Middle East, Asia Pacific, Europe, Africa, United States, Latin America and Caribbean enabling users to seamlessly recharge a mobile number across DT One’s global network of over 550 operators. For DT One, this is the first time that mobile recharge will be originated out of India via their network, rather than to India, the release added.

Commenting on the partnership, Upasana Taku, Co-founder, MobiKwik, said “We are constantly looking at adding value to our existing offerings for our customers even if it is as simple as mobile recharge back home for people coming to India for work or for studies. This new feature will enable millions - immigrants in India from across the globe, students studying abroad and even frequent travellers the power of connectivity at their fingertips.”

“Our goal is to make digital communications more available and accessible to everyone, helping to keep more people better connected so they are able to do the things that matter to them the most, online,” said Krishnadeep Baruah, DT One EVP of APAC.

India is one of the world’s top destinations for international migrants. According to data from Pew Research Center for 2015, nearly 5.2 million immigrants live in India, making it the 12th-largest immigrant population in the world. The overwhelming majority of India’s immigrants are from neighbouring countries such as Bangladesh (3.2 million), Nepal (540,000) and Sri Lanka (160,000). More and more foreigners are making India their home for education, work and business opportunities. These immigrants, based in India will now be able to recharge the mobile phone for their family, friends and loved ones directly in real-time via MobiKwik app.

An estimated 17 million Indians were living abroad in 2017, making India the largest source country for international migrants globally, according to an IndiaSpend analysis of data from the United Nations Department of Economic Affairs.

As per Ministry of External Affairs data, 752,725 Indian students went to study abroad in 90 countries including the US, Australia, Canada, UK, UAE in 2018. This number has been growing steadily over the years at 15-20%. The families of these students will find it easy to recharge their mobile phones for the duration of their stay abroad.

This partnership will also deliver convenience to travellers from India going abroad for business or pleasure. Especially for frequent travellers for business who may have a long term pre-paid SIM of the country they frequently visit, they would be able to recharge it from the comfort of their home via their MobiKwik wallet prior to travel and that too in Indian currency. The UN World Tourism Organisation (UNWTO) predicts that India will account for 50 million outbound tourists by 2020. Operators say that at present around 25 million tourists from India travel abroad.

Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik has raised four rounds of funding from investors including Sequoia Capital, American Express, and Net1 of close to $120 million.

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