Mobikwik is India's largest Buy Now Pay Later (BNPL) financial technology company and one of the country's largest mobile wallets. Digitally paying users have grown rapidly in India over the past decade, but the country's credit card penetration is still only 3.5%. By combining the convenience of everyday mobile payments with the benefits of BNPL, we aim to address the unmet credit needs of the rapidly growing digitally paying user base.
In 2009, Bipin Preet Singh and Upasana Taku established our company as a mobile wallet to facilitate digital payments for our users. Since then, our use cases have grown to encompass bill payments, e-commerce shopping, food delivery, payments at gas stations, large retail chains, pharmacies, Kirana shops, etc. Additionally, our platform supports peer-to-peer payments via Unified Payments Interface (""UPI""), MobiKwik Wallet, and MobiKwik Wallet to bank payments. We have accumulated over 108 million Registered Users and over 3.45 million e-commerce, physical retail, and biller partners over the years.
In 2012, we introduced our payment gateway subsidiary Zaakpay to further enhance our value proposition for online merchants. Zaakpay enables online websites and mobile applications to accept payments from their users via a variety of payment methods, including debit cards, credit cards, mobile wallets, UPI, and net banking.
MobiKwik Zip, our flagship BNPL product, was launched in May 2019 with a focus on the Indian middle class to enable payments for daily life use cases. MobiKwik Zip is committed to introducing this unbanked Indian population to credit for the first time.
We are a technology-first company that uses big data analytics and deep data science (including machine learning) to continuously delight our platform's users and merchants. Our mission is to create a world-class credit and payments product for India!
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