MobiKwik targets Rs 600 crore GMV from oil and gas sector in 2017

Mobile wallet company MobiKwik on Tuesday announced zero surcharge on all transactions at petrol pumps and on LPG gas payments. The company also announced that it is targeting Rs 600 crore in gross merchandising value (GMV) in 2017 from the oil and gas sector alone. In total is its targeting to achieve the GMV of Rs 68,000 crore in 2017.

Upasana Taku, cofounder of MobiKwik shared that the company is targeting Rs 600 crores GMV in 2017 from oil & gas sector. MobiKwik is targeting to achieve the GMV of Rs 68,000 crores in 2017.

MobiKwik is currently accepted across petrol pumps and gas stations in top 20 cities in India. These include all major Indian Oil, Hindustan Petroleum and Bharat Petroleum pumps in Delhi NCR, Mumbai, Hyderabad, Ahmedabad, Vijaywada, Pune, Indore, Bhubaneshwar among other leading cities. The company also powers digital payments for LPG companies like Indane, Bharat Gas and HP.

“The adoption of digital payments is observing record growth post demonetisation and even though the cash situation is stabilising, masses in India have developed the habit of paying cashless. It is our constant endeavour to identify and promote daily life use cases that drive adoption of our wallet. The announcement of zero surcharge on all petrol pumps and LPG transactions will benefit consumers and will motivate them to continue using digital payments,” Taku said.

The company said that it currently has a network of 1 million merchants and 45 million users. Post demonetisation, MobiKwik has also launched a lighter version of its app named, MobiKwik lite in Hindi, English and Gujarati that has helped the company in extending its offerings to tier 2 and tier 3 cities across India.