MobiKwik envisioning USD 1 billion GMV from West Bengal

New Delhi [India], March 2 : Indian mobile wallet major, MobiKwik today announced the opening of its office in Kolkata.

The new office will support the company's accelerated growth by engaging an experienced talent pool and also provide local support to MobiKwik users in the area.

MobiKwik, which is aiming an annual Gross Merchandise Value (GMV) of USD one billion by end 2017, is planning to spend Rs.

300 crore for expansion aimed at growing its user base from current 50 million to 150 million in 2017.

"West Bengal has been a key growth market of our business, and currently, we have over one lakh merchants from the area on our network.

With the opening of our new office, we expect to scale up our business and promote adoption of digital payments to accelerate growth in the state," said Vineet K.

Singh, Chief Business Officer, MobiKwik. MobiKwik's Kolkata office will employ over 100 people to support merchant and user growth in the region.

This is MobiKwik's fourth office and it's first in the eastern region. Headquartered in Gurugram, MobiKwik already has begun operations in Mumbai and Pune. To support its business ambition, MobiKwik recently launched Supercash, a loyalty initiative that is aimed at promoting digital payments among its users and promises benefits on every transaction.

Supercash is the first ever loyalty initiative launched by a mobile wallet in India. These points can be used on every transaction thus enabling the user to save money every time he transacts on Mobikwik.

Source: ANI