Fintech company MobiKwik collaborated with National Payments Corporation of India (NPCI) and Axis Bank to launch 'MobiKwik RuPay' card today. The card will be free of charge to customers and completely digital, in line with the growing demand of online payments in the country, according to a statement released by the company.
Customers can get up to Rs. 200,000 of their MobiKwik wallet balance mirrored on the MobiKwik RuPay prepaid card. The integration of the card with MobiKwik wallet will allow MobiKwik customers to use the card and wallet balance at over 41 million merchants across 190 countries, in addition to the MobiKwik merchant network.
“MobiKwikRuPay is our second Prepaid Card within a span of a year, and it strongly reaffirms our commitment for financial inclusion in India. We are diligently working towards bringing innovative products which will deliver a superlative pay later experience to our customers,'' said Upasana Taku, Co-founder & COO, MobiKwik.
Card users will automatically qualify for the MobiKwik Zip, a flagship 'buy now pay later' product, which provides up to Rs. 30,000 credit in the user's wallet. Users can also save extra on each card purchase by benefiting from both RuPay card offers and MobiKwik SuperCash.
RuPay will bring in features on tokenisation, offline transit, and attractive offers across different categories like travel, dining, retail shopping, bill payments, among others.
The value propositions of the MobiKwik RuPay Card are as follows:
- No activation fees
- Upto 50 per cent discount on home centre and upto 30 per cent discount on Uber bookings when signing up
- Personal accident insurance (accidental death or permanent total disability) of upto Rs. 200,000
- MobiKwik super cash on card purchases