MobiKwik witnesses increasing adoption of W2W Money Transfer Service

MobiKwik is experiencing increasing adoption in its new wallet-to-wallet (W2W) money transfer service with more than 1.5 lakh money transfers taking place during the last two months.

Launched on June 20, the new W2W service allows MobiKwik’s eight million registered users to make digital and mobile money transfers direct to consumers in one simple click.

MobiKwik Co-Founder Upasana Taku said, “As acceptance of online payments and mobile wallet usage grows, Indian consumers are looking for simpler ways to make electronic transfers. This new feature gives consumers the convenient option of paying anyone at any time, from anywhere in a highly secure manner.”

The new W2W service also includes a unique “Request Money” feature which provides users a simple method of alerting others of any pending payments.

To ensure the security of the W2W service, a One Time Password (OTP) is generated before each wallet money transfer is made.