In the wake of challenges being faced by masses in India due to demonetization, MobiKwik has announced that users will be able to transfer money instantly to any bank account at zero per cent fee. The move is expected to encourage more and more retailers, shopkeepers and users to use mobile wallet and overcome the challenges that they are facing in procuring and using cash.
Earlier, to transfer money from a mobile wallet to the bank, a non KYC user was charged 4 per cent fee and the fee for a KYC user was 1 per cent.
The company has launched a user support number that is operational 24x7. Users can call on +919029059700 to download MobiKwik app and start sending or receiving money for free.
The company has registered 18 times growth in transactions since the announcement of demonetization. MobiKwik users can register instantaneously using Truecaller. They can also find nearby merchants using the 'nearby' feature on the app that was launched earlier this year.
Users can load money using their credit/debit cards or netbanking. They can also convert their Payback points, earned from ICICI bank debit/credit cards, Big Bazaar, Central, HP Petrol Pumps, MakeMyTrip, eBay, BookMyShow and American Express; and reward points earned from SBI, Bank of India, Punjab National Bank, Central Bank, Canara Bank, Union Bank & Bank of Baroda to MobiKwik cash.
