In the wake of demonetization and cash crunch, MobiKwik, Indian mobile wallet major, announced its tie up with Amul, the Indian dairy cooperative. The association will help customers of Amul in making cashless payments with MobiKwik at 7000 Amul outlets and 3 lakhs Amul multi-brand outlets and retailers across India.
R.S. 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 lakhs retailers and 7000 dealers of milk and dairy products. This will help us provide remunerative and quick returns to our 3.6 mn 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 80k crore organized 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, Co-founder of 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 is India’s leading wallet with many firsts to its credit. The company was the first to launch mobile wallets in India in 2009. MobiKwik has since then introduced innovations such as nearby feature, cash loading in MobiKwik wallet through cash pick up, cash deposit and bubble pin that enables offline mobile wallet payments without network. Within November, the company has added 1,50,000 retailers to its network and has a network reach of over 2,50,000 retailers in India.