If there is one digital wallet giving competition to Paytm, it is MobiKwik. In the past, the company has partnered with IRCTC, Makemytrip & Cleartrip, StoreKing and WHSmith to bring cashless transactions for the customers. Apart from Paytm, MobiKwik is the only mobile wallet that has been able to gain some market share in offline cashless payments space.
Extending its service to All India Institute of Medical Sciences (AIIMS), MobiKwik has partnered with one of India’s largest hospitals to make all transactions at the medical facility completely cashless. According to the company, the service will start with resident doctors, staff and visitors who can pay with the mobile wallet in the institution’s cafeteria.
“We are proud to support Indians during the current situation of cash crunch and lead India’s transformation into a less-cash economy. AIIMS is the foremost medical institution in India and we are glad to have partnered with them,” said Upasana Taku, Co-Founder – MobiKwik.
In another couple of days, the company is also planning to make doctor consultation fees, tests payments and other services at the hospitals completely cashless. The company had launched MobiKwik lite in November to allow users with slower connection speeds to use their wallet and the app.
Because of demonetization, a lot of people, especially those who require immediate attention were facing cash crunch. This way, even though a little late, it will help a lot of people who come from all over India to this medical institution. Not just the patients and residents, even the regular sellers in the campus will get back to their pre-demonetization phase.
Paytm wallet Starts UPI Support
The biggest disruption in the mobile wallet industry, UPI, has now been integrated into the Paytm app. While Paytm itself is going crazy with the expansion and its own payments bank, the company has accepted UPI into itself as well.
Users will now be able to add money to their Paytm wallet with their UPI ID, which typically is as simple as sending a WhatsApp text. On the app, alongside other payments options, you will now see a new option called UPI.
As soon as you enter your UPI ID on the payment page, a collect-money request is sent to the UPI-enabled app on your smartphone. Once it is approved by you, the transaction is confirmed and money is transferred to your Paytm wallet. This eliminates the method of logging into netbanking or any card to transfer money.
UPI-enabled apps usually include all leading banking apps that would help you transfer money directly from your bank account. Paytm says that it will help the company when it launches the payments bank. It might play around with the idea of UPI and the technology itself to come up with interesting tools for the customers.
According to the RBI’s guidelines, customers can add anywhere between Rs. 1 to 20000 at one go to their Paytm account. The mobile number registered with the bank must be the same as the one you’re currently using.
Right now this facility to only available on the web and iOS, and will soon come to Android phones. Adding UPI to Paytm is simpler and often more convenient than linking your card or bank account. This also ensures that user information is secure and your bank details stay with you.