Gurgaon/Mumbai, January 18, 2021: MobiKwik, one of India’s largest mobile wallets and Buy Now Pay Later (BNPL) Fintech companies launched ‘ClickPay’ for its customers, in collaboration with NPCI Bharat BillPay Ltd. (NBBL), the wholly owned subsidiary of National Payments Corporation of India. This feature enables MobiKwik customers to pay recurring online bills (such as mobile, gas, water, electricity, DTH, insurance, and loan EMIs) with ease by eliminating the need to remember individual bill details and due dates.
ClickPay is a two-step payment feature wherein the billers generate a unique payment link within the bill-pay message, allowing customers to make payments directly on the payment page.
Speaking on the launch, Chandan Joshi, Co-Founder, and CEO, Consumer Payments, MobiKwik said, “Our partnership with NPCI Bharat BillPay is a testament to our commitment to providing best in class bill payment experience to our 120 million customers. We have integrated our Buy Now Pay Later (BNPL) service with ClickPay so that 24 million eligible users can now use BNPL credit for their daily life bill payments. In the future, we expect to work closely with NPCI on product partnerships which enable us to offer effortless payment experience on our platform.”
Noopur Chaturvedi, CEO, NPCI Bharat BillPay Ltd (NBBL) said, “We are glad to launch the ClickPay facility with MobiKwik. This facility has been providing an all-new dimension to regular bill payments for millions of customers in India. We believe this initiative will offer a memorable transaction experience to MobiKwik customers for all their bill payments backed up by enhanced convenience and safety. Our association with MobiKwik is a step ahead to provide a wider reach to ‘ClickPay’ in the country and empower customers to pay all their bills seamlessly without having to worry about the amount and due dates via this unique functionality.”
MobiKwik is among the top six players (comprising more than 60 banks and non-banks) on the Bharat Bill Payment Services platform. The company received authorization from the RBI to operate as a Bharat Bill Payment Operating Unit in 2019. MobiKwik is focused on providing the Indian middle-class population a simple and secure payment platform to make daily life payments.
MobiKwik is one of the largest Mobile Wallet and Buy Now Pay Later (BNPL) Fintech companies in India. Founded in 2009, MobiKwik commenced operations as a Mobile Wallet and has since expanded its product offerings to Buy Now Pay Later, Payment Gateway, Wealthtech & Insurtech. Its tech platform has over 120 million Registered Users, 24 million pre-approved BNPL users and more than 3.4 million merchant partners. The company launched MobiKwik Zip, its flagship BNPL product in 2019 to provide the fast-growing digitally paying Indians their first credit experience. The company believes that BNPL for daily life payments is the only way to deliver financial freedom to millions of Indians.
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organisation for operating retail payments and settlement systems in India. An initiative of RBI and IBA under the provisions of the Payment and Settlement Systems Act, 2007, NPCI was initiated for creating a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC) and Bharat BillPay. NPCI also launched UPI 2.0 to offer more secure and comprehensive services to consumers and merchants.
NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.
About NPCI Bharat BillPay Ltd.
NPCI Bharat BillPay Ltd. is a wholly-owned subsidiary of National Payments Corporation of India. Came into effect from April 1, 2021, NBBL is growing rapidly on account of the ease and accessibility it offers to the customers and the one-stop solution to Billers for low-cost collections. The platform offers 20,000+ billers across multiple banks and non-bank channels.
For more information on NPCI, visit: https://www.npci.org.in/
For more information on NBBL, visit https://www.bharatbillpay.com/
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