MobiKwik, one of India’s leading digital wallet and payment services, has become the country’s first app to support credit cards on the Unified Payments Interface (UPI). The move is expected to significantly enhance the company’s payment services and provide greater convenience to its users.
In addition to enabling instant money transfers between bank accounts, UPI is a real-time payment system developed by the National Payments Corporation of India (NPCI). The system has rapidly become one of the most popular payment methods in India, with millions of transactions being processed every day.
MobiKwik’s integration of credit card support on UPI is a major step forward for the company and is expected to greatly benefit its users. The integration will allow users to link their credit cards to their UPI accounts, enabling them to make payments directly from their credit card balances. This will provide greater flexibility and convenience for users, as they will no longer have to transfer funds from their bank accounts to their digital wallets in order to make payments.
The integration of credit card support on UPI is also expected to benefit merchants and businesses that use MobiKwik for their payment services. With the ability to make payments directly from their credit card balances, users will be able to complete transactions more quickly and efficiently. This, in turn, is expected to increase the speed and efficiency of checkout processes, leading to improved customer experiences and increased sales for businesses.
In addition to the integration of credit card support on UPI, MobiKwik has also introduced a number of other new features and enhancements to its payment services. These include the ability to make payments directly from bank accounts, the introduction of a virtual debit card, and improved security features such as multi-factor authentication.
MobiKwik’s commitment to providing the best possible payment experience to its users is reflected in its recent performance. The company has seen significant growth in recent months, with millions of new users signing up for its services. This growth is a testament to the company’s commitment to providing its users with the best possible payment services, and its efforts to continually innovate and improve its offerings.