Indians are becoming practical, and making online payments is no longer a taboo. With internet on everyone’s phones it’s no surprise that online recharge is welcomed with open arms. Enter on the scene MobiKwik; India’s first and leading mobile wallet service.
This is a bang on service for the Indian consumers. Founded by Upasana Taku and Bipin Preet Singh, MobiKwik focuses on making mobile money transfers simple, easy and safe.
MobiKwik provides customers to pay through 3 main methods; online, SMS and apps. The apps are available for all smartphone users, making it a very universal service. Android, iOS, Windows, and even Blackberry users can enjoy their service. Customers can recharge their mobile phones, make bill payments, and also pay for services and products that they have a tie up with. MobiKwik allows customers to shop on some major Indian shopping sites like Naaptol, FashionAndYou, Redbus, Dominos etc. They provide mobile recharge for all of leading service providers; like Airtel, Tata Docomo, Vodafone, Aircel, Idea, Virgin, etc. Customers can simply browse through the plans and select the best one for them.
MobiKwik- Your Personal Digital Wallet
Safety is key, and to make each transaction uniquely safe an OTP is generated per transaction. In June the company introduced their Wallet to wallet service aka W2W. This new service includes a special feature called ‘Request Money’, which enables the users to send alerts to others of any pending payments. Co-founder Upasana Taku talks about the versatility of the service and the users “…People are utilizing the W2W feature for various reasons.
However, some regular transactions we are seeing include people splitting bills, students and working professionals transferring money for bill payments, and friends exchanging money for group gift purchases.” Because the service has such wide usage, people are enjoying money transfers without the hassle and stress dealing with various merchants, payment gateways, hopping back and forth. MobiKwik makes it a one click wonder. The most interesting feature they have is the money collection at your doorstep. It just can’t get any easier than that. The company accepts all major credit and debit cards, and provides over 50 net banking options.
While MobiKwik has been in the market since 2009, they’re introducing better features, and taking their service up to the next level, the app gets upgraded every few months, updating its features and user friendly attributes. Freecharge is another app that is traveling the same route. They too provide mobile recharge facilities. When comparing the two, just from the outside, you will notice desperation at Freecharge, and class at MobiKwik.
There have been several businesses that have failed because someone came up with a better more interesting idea and marketing technique. However, Freecharge is trying too hard to win customers from MobiKwik. They have fewer cell phone service providers in their portfolio, they have user testimonials splattered over the websites landing page and are trying to “win” the customers through offers.
MobiKwik on the other hand is focused on diversified, sense making, customer satisfying services. Although the Freecharge website is more interesting in its outlay, the company doesn’t have the same promise. Customer satisfaction is crucial, and promo material may grab the customer at first, but the fine print and the starred information is complicated and annoying. Knowing that you made a payment and went out excited to get that Coffee at Barista just to find out the offer doesn’t apply at all stores, is just unacceptable service. Yes, it’s a marketing technique, yes it works for the company, not all customers may be bothered, but in the end mobile transfer service is all about ease, and most importantly trust. No one wants to make another shady transaction just to get the same shady surprise!
While Freecharge is trying too hard to grab MobiKwik’s customers, MobiKwik is being smart and innovative, instead of gimmicky. Business is all about long term goals and foresight, even though MobiKwik may be shaken by the entry of Freecharge, it’s all about who can stand longer and stronger. Customers want stability and satisfaction, it’s very simple, and MobiKwik understands this simplicity.
So what service you use MobiKwik or Freecharge? And do let us know your thoughts about the same!