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FreeCharge ‘Wallet on Delivery’ Payments Now Rolling Out; Paytm, MobiKwik Will Follow Suit

by Rajdeep
written by Rajdeep

FreeCharge 'Wallet on Delivery' Payments Now Rolling Out; Paytm, MobiKwik Will Follow Suit

Ever since Prime Minister Modi announced the demonetisation of Rs. 500 and Rs. 1000 notes, we’ve been seeing a lot of confusion, and while things will no doubt get back to normal soon, right now one problem that has come up for a lot of people is that the various e-commerce websites have decided to either stop cash on delivery altogether, or limit it to orders below a certain value.

Considering that CoD accounts for the bulk of online shopping in India, this is a big move, and one that hugely inconvenient for many people. Many people prefer to pay CoD because it is more convenient or faster, or because they don’t have access to prepaid options. For others, it adds a sense of security, so that they haven’t committed any money until they actually get the product they wanted. Snapdeal has announced a new payment option that it hopes will alleviate the problem, which it’s calling Wallet on Delivery. Minutes after the announcement, rival Paytm took to social media to say that it is working with “courier partners to enable Wallet on Delivery, also known as Paytm on Delivery [POD]”. MobiKwik also announced via email that it will offer a MobiKwik wallet on delivery option for online sellers.

The idea is simple – you can use the Snapdeal-owned FreeCharge wallet to pay for items at the time of delivery. This will allow users to pay only when the package is delivered, but still saves Snapdeal the hassle of handling cash orders, which complicate logistics significantly. It will also help customers right now as people will not have to scramble for the new currency notes at this point.

According to a Snapdeal employee who spoke to Gadgets 360, the Wallet on Delivery mechanism will work automatically – you will receive a PIN to use in your FreeCharge app and once you confirm it, the money will be deducted. This means that you won’t have to use a QR code type of mechanism. It is being rolled out with only Snapdeal right now, but could expand to other Snapdeal sites over time.

“The launch of Wallet on Delivery is an absolute need of the hour for consumers,” says Kunal Bahl, founder and CEO, Snapdeal. “The launch of this new feature by FreeCharge shortly after the announcement of the demonetisation of Rs.500 and Rs.1000 currency notes demonstrates our speed of execution in ensuring consumers’ needs are met in real time.”

The FreeCharge wallet can also be used to pay for utilities, cab rides via Meru, for online recharges, and at some offline merchants, as well as being used to pay for items from Snapdeal.

[Source:- gadgets.ndtv]

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Internet

IRCTC, MobiKwik Partner on E-Cash Payments for Tatkal Bookings

by Rajdeep
written by Rajdeep

IRCTC, MobiKwik Partner on E-Cash Payments for Tatkal Bookings

In a bid to tackle the tatkal rush, payments app MobilKwik and IRCTC have joined hands to offer an alternative payment solution while booking tickets. Now, apart from paying via netbanking, credit cards, and other wallets, users can now opt to pay directly from their MobilKwik wallet while booking tatkal tickets.

MobilKwik claims that users can pay with the wallet within 2 seconds, whereas other modes of payment take five to ten times more time. This new e-cash payment introduction will eradicate the need to fill in card details, and wait for the bank to approve the transaction through authentication. Instead, IRCTC will instantly deduct the amount from your MobilKwik wallet without any authentication as a prerequisite.

Of course, for this to work, the user must have installed the app and have money in the wallet for seamless and fast payment. For those uninitiated, tatkal is a service provided by the Indian Railway to book emergency confirmed tickets one-day prior to travel. MobilKwik claims that over 15 percent daily ticket bookings for Indian Railways happen under tatkal, and the e-cash payment option helps in giving the user an added leverage to beat the rush.

This facility is available on the IRCTC website, and users can book their tickets using MobilKwik between 8am-12pm IST daily. “MobiKwik collaborated with Indian Railways to digitize payments on the IRCTC app and IRCTC FoodOnTrack app this year, and now we are powering payments for tatkal online, that will help users book tickets almost instantly. We are proud to support the largest rail network in Asia in their endeavor to digitize payments and provide the best payments experience to their users,” Upasana Taku, Co-founder at MobiKwik said in a statement.

Last year, IRCTC made MobiKwik wallet as the first payment option on IRCTC’s Connect Android App. IRCTC also partnered with Paytm in September this year to allow users to book train tickets through the payment app and website. It had even tied up with Paytm last year to enable e-catering payments.

[Source:- gadgets.ndtv]

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Tech Update

MobiKwik Opens ‘Power Wallet’ API to Retailers

by onkar
written by onkar
MobiKwik Opens 'Power Wallet' API to Retailers

MobiKwik announced Tuesday that it has opened up access to its patent-pending Power Wallet interface, and following its integration with IRCTC, OYO Rooms, PVR Cinemas, Zomato, Meru Cabs, andBig Bazaar.

MobiKwik claims that the Power Wallet integration provides merchants a near-100 percent success rate when processing payments on a mobile wallet, compared to the industry average of around 60 percent.

Power Wallet can be integrated across the retailer’s website, mobile website, apps, and offline point-of-sale terminals. MobiKwik claims to provide a superlative transaction experience even if there’s a sudden surge in traffic on the retailer’s platform.

Post integration, no re-direction to MobiKwik is required on the retailer’s products, as users get to make the payment from within the retailer’s platform. Users need not enter their credentials repeatedly for subsequent payments, as MobiKwik’s Power Wallet provides a one-time user authentication process, the company said.

“The scalable interface is easy to integrate across multiple retailer platforms and is an ideal solution for merchants looking for a quick-to-deploy, omni-channel digital payment mechanism,” said Bipin Preet Singh, Founder & CEO, MobiKwik in an emailed statement.

MobiKwik’s services are also being used by Uber, BookMyShow, Grofers, Big Basket, Domino’s, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Star Sports, GoDaddy, MakeMyTrip, Cleartrip, andYatra, the company said.

A number of payment processors have been in the news lately for filing interface and feature patents.FreeCharge had filed a patent for its technology that does away with the one-time-password requirement in late 2015, whilePayUbiz had launched its patent pending ‘one tap’ technology, which brings a major reduction in mobile payment transaction time.

[“source-gadgets.ndtv”]

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Internet

India Funding Roundup: MobiKwik, Intelligent Interfaces, Bumper, Town Essentials, Hubhopper

by onkar
written by onkar

India Funding Roundup: MobiKwik, Intelligent Interfaces, Bumper, Town Essentials, Hubhopper

India Funding Roundup: MobiKwik, Intelligent Interfaces, Bumper, Town Essentials, Hubhopper
Former Housing.com CEO Rahul Yadav will be ending the year on a high note, with funding support from cricketer Yuvraj Singh, who will be backing his e-governance startup. Funding activity seems to have trickled down during the holiday season, centred around online grocery, car care, mobile wallets, and social networks.

Intelligent Interfaces
Cricketer Yuvraj Singh has invested an undisclosed amount in former Housing.com CEO Rahul Yadav’s new e-governance startup Intelligent Interfaces. “Proud to back Rahul Yadav and Intelligent Interfaces (ii) in helping the Government govern 100x better with the help of technology. Get ready for the (r)evolution!” Singh wrote in a Facebook post on Wednesday. Intelligent Interfaces had previously received the backing of Flipkart founders Sachin Bansal and Binny Bansal a fortnight ago.

MobiKwik
Gurgaon-based mobile wallet provider MobiKwik has reportedly raised an additional Rs. 44 crores in a mix of debt and equity from existing investors, Sequoia Capital and Tree Line Asia. The latest tranche is part of the company’s Series B round, following a $25 million (roughly Rs. 165 crores) investment in April this year.

Bumper
Bengaluru-based Bumper, which provides car care services through its mobile app has reportedly raised $500,000 (roughly Rs. 1.9 crores) in seed funding in an investment round led by SAIF Partners. Founded in 2015 by Akhil Gupta, Rahul Bendre, Ashis Nayak, and Kshitij Saxena, Bumper’s app has an overall rating of 4.2 stars, with over 10,000 downloads on Google Play.

Town Essentials
Bengaluru based online grocery startup Town Essentials, has reportedly raised $1 million (roughly Rs 6.7 crores) in a fresh round of angel funding. The company has reportedly launched a platform called Morning Drop that will deliver products like milk, bread, and eggs on a subscription basis.

Hubhopper
Delhi based user-adaptive social network Hubhopper, which calls itself the happiest place on the Web, has reportedly raised an undisclosed amount of funding. Founded by Gautam Anand in 2015, Hubhopper’s feed curates music according to genres, and lets users dictate what activities and interests they want to see in their feed.

[“source-gadgets.ndtv”]

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