Digital mobile wallet platform MobiKwik has also got the support of the Unified Payment Interface (UPI). Now users of MobiKwik will also be able to pay directly from their bank account through mobile number. Now users will not need to keep money in the wallet to make payment. The company said that with the support of the UPI, they are following all the rules of NPCI and the app is completely safe.
According to statement, MobiKwik has brought Bharat QR, UPI QR and the intent functionality for merchant payments. Additionally, all users of MobiKwik will be able to do P2P bank transfers using the UPI. MobiKwik’s UPI app follows the 100 percent guidelines of NPCI. According to NPCI, MobiKwik’s app is the safest UPI app yet. Mobikwik has allowed 30 lakh businessmen to use the UPI on their app.
Now MobiKwik users can activate their own UPI with their mobile number. For this they can use @ikwik with mobile number. Apart from this, users can add multiple bank accounts simultaneously with a Virtual Payment Assistant (VPA). Apart from sending money, receiving money will be easily done through the MobiKwik App.
If the receiver is also registered in MobiKwik UPI ecosystem, a sender can send money by selecting his contact from the phonebook without remembering VPA domain. It will also be possible for the users to request money using UPI on the MobiKwik app.
Announcing the UPI support, MobiKwik CEO Bipin Preet Singh said, “Our strength is present in the user experience, vast network of traders and countless daily usage of our technology. We want to offer all types of payment options, including Wallet, Virtual Card and UPI, to ensure convenience for all our users. MobiKwik will be the first player to provide all the features of interactive functionality with its UPI App Launch.”
Opposing the existing UPI-based services offered by non-banking units, Mobikwik has its own customized VPA handle “@ikwik” to pay.
Promoted by The Government of India, the UPI empowers many bank accounts in any mobile application of any participating bank, in which many banking features are merged, whose purpose is to offer the uninterrupted route of funds and offer merchant payment to this single platform.