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  • Writer's pictureKRISHNENDU KUNDU

The Biggest Wallet Player is Now MobiKwik

News Desk, News Nation 360 : One of the biggest platforms for digital financial products and services in India, MobiKwik (ONE MOBIKWIK SYSTEMS LIMITED), has reached a noteworthy milestone by registering the greatest amount of PPI Wallet transactions in terms of value for the months of April and May 2024. The introduction of MobiKwik's new product, Pocket UPI, has greatly increased user convenience and the company's reach. In order to facilitate efficient money management, Pocket UPI provides users with a smooth method of making instantaneous payments through their Wallets throughout the UPI network without tying in their bank account. The Company further credits the extensive uptake of its platform in Tier II and Tier III cities for this expansion. Both customers and merchants will benefit from its user-friendly app and transaction security features. The Reserve Bank of India (RBI) has released data showing that MobiKwik has increased its market share in PPI Wallet-based financial transactions. By value, the company's market share increased from 11% in March 2024 to 20% in April and then to 23% in May. Commenting on the milestone, Upasana Taku, Co-founder & CFO of MobiKwik, stated that the Company's increase in its market share for PPI Wallet is evidence of their commitment to providing the market with cutting-edge, safe, and user-focused financial products. They are steadfast in their commitment to using technologically advanced solutions to achieve financial inclusion.

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