Amid this ongoing wrestle between digital payment companies to tap into the largely unchartered offline stores segment, mobile payments network MobiKwik has launched a new feature called Explore Nearby , which enables discovery of neighbourhood stores, restaurants, cafes, etc. that accept wallet payments.
With immediate effect, more than 10,000 MobiKwik partner retail stores, which includes merchants such as Big Bazaar, Barista, Domino’s Pizza, WHSmith India, Archies, Sagar Ratna, thousands of restaurants and many others, would now be visible to the users on the ‘Explore Nearby’ tab.
Users can also view existing offers at these outlets and pay via MobiKwik to redeem it.
The launch of this feature marks a tipping point for driving India to a more cashless environment as even before venturing out of their home or office, consumers can now easily identify neighborhood stores where cashless payments are accepted.
The map-based ‘Explore Nearby’ interface is the first implementation of online-to-offline (O2O) strategy by any mobile wallet firm in India.
Using ‘Explore Nearby’ users can also locate the nearest cash-loading point for topping up their wallet balance. Many of MobiKwik’s offline retail partners, such WHSmith India and ICICI Bank, also assist the users to top up their wallet using hard cash.
With the Explore Nearby feature, we are connecting offline retail stores with over 30 million users on our platform. Be it for purchasing grocery at your corner store or a family dinner at your local restaurant, the wallet now makes it easier for you to discover, shop & dine at MobiKwik supported merchants in your vicinity. Offline stores can now attract MobiKwik users depending on their location and preferences resulting in higher sales.
said CEO Bipin Preet Singh, Founder-CEO of MobiKwik.
The ‘Explore Nearby’ feature currently live on MobiKwik Android app is expected to be rolled out to the iOS and Windows versions as well.
While MobiKwik is the first mobile wallet firm to bring such feature to aid its online-to-offline strategy, the strategy itself is not new and is being hotly pursued by its fiercest rival, none other than the Alibaba-backed, Paytm.
The RBI-approved digital wallet service provider is also rapidly expanding the base of its offline retail merchants, planning to get a massive 4 million merchants onboard where users can pay through their PayTm wallets.
The company even eliminated the ‘per transaction fee’ on its platform which is usually incurred by the merchants for digital transactions and deter many of them from accepting digital payments.
It recently entered the movie ticketing business as well by partnering with Inox and PVR multiplex chains to enable users to pay for their tickets as well as for food and other value-added services using PayTm wallet.