New Delhi, Nov 14: MobiKwik, one of the largest mobile wallets and Buy Now Pay Later (BNPL) Fintech companies in India, has collaborated with National Payments Corporation of India (NPCI) and Axis Bank to launch “MobiKwikRuPay Card”. The card will be free of charge to customers and purely digital keeping in line with the growing demand for digital payments across online and brick and mortar stores.
The customers can now get up to Rs. 200,000 of their MobiKwik wallet balance mirrored on the MobiKwikRuPay Prepaid Card. The integration of the card with MobiKwik wallet will allow MobiKwik customers to use the card and wallet balance at over 41 million merchants across 190 countries, in addition to the MobiKwik merchant network.
The card users will automatically qualify for MobiKwik Zip, a flagship BNPL product, which provides up to Rs. 30,000 credit in the user’s wallet. The users can also save extra on each card purchase by benefiting from both RuPay card offers and MobiKwikSuperCash.
Commenting on the partnership, Upasana Taku, Co-founder & COO, MobiKwik said, “MobiKwikRuPay is our second Prepaid Card within a span of a year, and it strongly reaffirms our commitment for financial inclusion in India. We are diligently working towards bringing innovative products which will deliver a superlative pay later experience to our customers.”
Commenting on the partnership, Rajiv Anand, Deputy Managing Director, Axis Bank, said, “In line with our vision, we are committed to meet the unique needs of our customers through technology led financial solutions. This MobiKwikRuPay Card is suitable for young Indians who are looking for cashless, secure, and innovative payment options. We believe that the partnership will help us increase the credit footprints in India.”