MobiKwik in Talks with IIM Ahmedabad for Going Cashless

MobiKwik is in talks with Indian Institute of Management, Ahmedabad (IIM - A) regarding digital payments as a part of its 'Cashless Campus Programme'. Earlier, MobiKwik held talks with Indian Institute of Technology, Delhi and Jawaharlal Nehru University. The company has started the initiative as most of the B-Schools are keen on adopting digital payments. So far, MobiKwik has been successful in collaborating with institutes and looking forward to expand its sphere.

Also Read: Javadekar Appeals Students to Transform from a Cash Society to Cashless Society

Upasana Taku, Co-Founder of MobiKwik revealed that they are in talks in IIM - A and they have already collaborated with JNU & IIT Delhi. Apart from educational institutions, the company will also tie-up with various retail outlets as well as electricity companies.

After the demonetization of old Rs. 500 & 1,000 notes, the company has witnessed a 400% rise in transactions on its platform. Since, November 8, 2016, the number of registered users of MobiKwik has increased to 45 million from 35 million.

Upasana further added that the company has divided its business into three segments which include small, mid and large. Through these segments, the tie-ups will be made with larger retail outlets as well as small retail outlets.

Also Read: DU: Students of Lakshmibai College Embrace Smart Identity Cards to go Cashless?

The major achievement of the company is that the registrations by smaller retail outlets on MobiKwik have increased from 300 to 6000-8000 per day. Currently, the company has 6,00,000 shopkeepers on its platform.

Prime Minister Narendra Modi and HRD Minister Javadekar have advised the higher educational institutions to go cashless. Currently, most of the institutions are carrying out an awareness campaign on digital payments.