MobiKwik is an Indian payment service provider founded in 2009 that provides a mobile phone-based payment system and digital wallet. Customers can add money to an online wallet that can be used for payments. In 2013 the Reserve Bank of India authorized the company’s use of the MobiKwik wallet, and in May 2016 the company began providing small loans to consumers as part of its service.
In November 2016, the company reported having 1.5 million merchants using its service and a user base of 55 million customers. The company employs over 325 people, operating in three segments including consumer payments, fintech, and payment gateway.
Recently, Mobikiwik suspended its e-wallet services from all major crypto exchanges in India from 1 April.
Official Customer Care & Support Information
| Registered Address | Unit No.001, Ground Floor, Boston House, Suren Road, Off. Andheri-Kurla Road, Andheri (East) Mumbai – 400 093, India. |
| Contact Number | 080 6872 7374 |
| Customer Care Number | 080-69808320 |
| Customer Care Number for Query | 01161266390 |
| Report Unauthorised Transaction | 01161265656 |
| Fraud Alert Email ID | [email protected] |
| Business Alliance and inquiries | [email protected] |
| Working Hours | 9:00 AM to 8:00 PM |
| Website | https://www.mobikwik.com/ |
| Mobikwik Help | https://www.mobikwik.com/help |
| Download App | https://play.google.com/store/apps/details?id=com.mobikwik_new |
MobiKwik History
MobiKwik was founded in 2009 by husband and wife team Bipin Preet Singh and Upasana Taku Singh, a 2002 graduate of IIT Delhi, saw an opportunity to improve mobile recharge options. He seeded the company, developed the website and payment options, and rented office space in Dwarka, Delhi. The initial service was a website with a closed wallet facility, but over the years, MobiKwik extended their service to mobile apps. The company initially partnered with online merchants to make their wallet available as a payment option on e-commerce sites.
MobiKwik launched a digital wallet system in 2012 that enabled users to deposit money online to use for bill payments and other features. MobiKwik provides financial services including loan, accident insurance, life insurance, fire insurance, IMPS money transfer, credit card bill payment, mutual funds, and DTH recharge. They also introduced the feature of sending and receiving money via a mobile app. In September 2014, Express Computer reported how MobiKwik was partnering with GoDaddy and other international companies to help them comply with Indian payment regulations.
In April 2015, MobiKwik was used by 15 million users and claimed to be adding one million new customers every month, according to Forbes India Magazine. In a partnership with CashCare, MobiKwik began providing small loans between ₹500–₹2,500 to customers in May 2016. The company launched its MobiKwik Lite mobile app in November 2016, designed for users of older 2G mobile networks and for those in areas with poor internet connectivity. In the same month, MobiKwik had over 1.5 million merchants using its service and 55 million users. Following the 2016 Indian banknote demonetisation in November 2016, MobiKwik realized a 400% increase in financial transactions using the service by late December 2016. In February 2017, the company announced plans to invest approximately $45 million to expand its user base from 50 million to 150 million users in 2017. In June 2017, 80 percent of India’s mobile wallet transactions market was performed by Paytm and Mobikwik. In 2019, MobiKwik announced a new partnership with DT One to expand their service internationally. Also in 2019, the company began offering loans, insurance and investment advice.
On 25 February 2021, an Indian security researcher named Rajshekhar Rajaharia claimed that a hacker group called Jordandaven stole the KYC details of nearly 100 million MobiKwik users from a company server and put them up for sale on the dark web. On 4 March 2021, company denied the claim and said it would take legal action against the researcher. Later, multiple independent researchers and users confirmed that their Mobikwik data was available online, and on 30 March 2021, TechCrunch reported that company was hiring a third-party to conduct a forensic data security audit.
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