This association with Tamil Nadu Electricity Board (TNEB) in the state will benefit ~280 Lakh subscribers of the electricity boards
Chennai, Tamil Nadu, April 16, 2018: MobiKwik, India’s largest digital financial services platform, has announced its partnership with the Tamil Nadu Electricity Board (TNEB) to enable subscribers to pay their utility bills digitally by using the MobiKwik wallet. This partnership will benefit the lives of close to 280 Lakh subscribers of the Tamil Nadu Electricity Board (TNEB).
Speaking on the announcement, Mr. Bipin Preet Singh, Founder and CEO, MobiKwik said, “At MobiKwik, our mission is to enable a billion Indians with easy access to digital payments,
irrespective of their location. With BBPS going live, residents of the state of Tamil Nadu can now pay their electricity bills, with a single tap on their smartphones. Our efforts to digitise utility payments in Tamil Nadu are being acknowledged and we are receiving a positive response.”
Users in Tamil Nadu can now also receive supercash of flat Rs. 300 on using the code – KILLBILL – while making electricity payments for TNEB through MobiKwik.
“BBPS is significant in enabling a digital India and will facilitate a cashless society through migration of bill payments from cash to digital channel.” Bipin added.
The Bharat Bill Payment System (BBPS) is a tiered structure for operating the bill payment system in the country under a single brand. With this system, customers have a single location—physical or electronic—where they can pay bills such as for electricity, telephone, water, gas, and direct-to- home television. It acts as a one-stop payment solution for all bills across India “Anytime Anywhere”.
It is interesting to note that BBPS enables close to $1 million worth of transactions every day. As per a KPMG report, Rs. 26.90 mn was transacted through 19.21 mn transactions in December 2017, up 46% from April 2017, when the pilot was launched.
MobiKwik is India’s largest issuer-independent digital financial services platform, a mobile wallet major and a leading payment gateway. MobiKwik app is a leading mobile payment platform with a network of over 30,00,000 direct merchants and 260 million plus users. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised four rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway, Cisco Investments Net1 and Bajaj Finance.
In 2017, MobiKwik has forged a string of smart partnerships with leading blue-chip brands such as BSNL, Bajaj Finserv Ltd and IndusInd Bank, thus starting to impact almost 260 million Indians. In August 2017, BSNL went digital by launching a bespoke mobile wallet developed and issued by MobiKwik. Recently, the company has partnered with Bajaj Finserv Ltd. to develop an EMI wallet through which customers can avail credits and loans. Bajaj Finserv-MobiKwik wallet is also India’s first credit wallet. MobiKwik has also developed India’s first auto-load wallet for IndusInd Bank’s 10 mIllion plus customers, who can make purchases just by tapping their wallet and their money gets automatically debited from their IndusInd account. The company has also signed a pact with IDFC bank for the launch of virtual cards.
The company has offices in New Delhi, Mumbai, Bangalore, Pune and Kolkata. MobiKwik aspires to be the largest source of digital transactions in India. It is powering e-payments for Bhopal Plus,
Bangalore One, GSRTC, Amul, Verka, Mother Dairy, Safal, NHAI, Bharat Petroleum, Indian Oil, Amul, Verka, IRCTC, Uber, Meru Cabs, Big Bazaar, OYO Rooms, Zomato, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Dominos, Burger King, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Barista, Food Panda, Nearbuy, Van Heusen, Allen Solly, Louis Phillips, GoDaddy, MakeMyTrip. The company has tied up with BSNL to create cobranded mobile wallet for their 120M customers.
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