MobiKwik to tap Rs 80,000 crore through Amul tie-up
In the wake of demonetisation and cash crunch, MobiKwik, Indian mobile wallet major has announced its tie up with Amul, the Indian dairy cooperative.
The association will help customers of Amul in making cashless payments with MobiKwik at 7,000 Amul outlets and 3 lakh Amul multi-brand brand outlets and retailers across India.
RS Sodhi, managing director, Amul, said, "In today's less cash economy, through this pan India initiative we shall be accepting payments with MobiKwik wallet, from our millions of consumers to our more than 3 lakh retailers and 7,000 dealers of milk and dairy products. This will help us provide remunerative and quick returns to our 3.6 millions farmers or milk producers whose livelihood depends upon the sale of milk to the Amul cooperative structure."
MobiKwik has been in the forefront of India's cashless mission and with this tie up, the company will be catering to the Rs 80,000 crore organised dairy market. Dairy is a daily requirement in India with milk and curd being the primary dietary preferences.
Speaking about the initiative, Bipin Preet Singh, cofounder, MobiKwik, said, “MobiKwik has become synonym to seamless payments and it is our constant endeavor to make MobiKwik payments ubiquitous. Now, Amul product buyers across India can use MobiKwik to pay for their daily dairy buys. We are proud to help Indians in adapting to an evolved, less cash economy.”
MobiKwik was the first to launch mobile wallets in India in 2009. Within November, the company has added 150,000 retailers to its network and has a network reach of over 250,000 retailers in India.