India’s Mobikwik getting serious about online travel
Leading Indian mobile wallet Mobikwik is seemingly intent on cornering the online travel payment market, after announcing a raft of key partnerships.
Mobikwik has signed up major online travel agents MakeMyTrip, Cleartrip, Yatra and Goibibo, all major players in the Indian travel space.
Mobikwik claims to have 17 million users who can now book flights, hotel, trains and bus journeys at any of these four companies.
Moibikwik predicts it will facilitate travel and hotel booking revenue worth Rs 2 billion ($31 million) within 12 months.
Latest data shows most of the big players in the Indian online travel sector are edging close to 50% of revenue generated from mobile devices while online travel booking itself continues to grow annually at a double-digit pace.
The company recently secured $25 million in series B funding which includes a sizeable investment from American Express, and also plans to create a bricks and mortar retail network of up to 100,000 merchants nationwide.
This will serve as a point of sale for wallet payments and a facility to top up mobile wallet accounts using cash.
Originally known in India as the major player for online mobile phone top up and household bill payments, Mobikwik can be used at about 2,000 retail, utility and telco websites.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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