Xiaomi partnered with MobiKwik to offer its M-Wallet Services
India: Xiaomi, a leading smartphone manufacturer has entered into the
partnership with MobiKwik, a leading mobile wallet company in India to launch
its ‘One-Touch-Recharge’ facility to Xiaomi’s smartphone users.
In addition, ‘One-Touch-Recharge’ feature is
only available for the Xiaomi devices running MIUI 8 interface. Furthermore,
the company is planning to introduce this service to its existing Xiaomi user
based in India as well as it will introduce the same in the upcoming Xiaomi
smartphones.
The ‘One-Touch-Recharge’ feature would allow
user to recharge for their DTH and telecom operators.
TechSci
Research analyses that with increasing competition in the India smartphone market, Xiaomi is trying to
strengthen its market presence by offering mobile services along with additional
features such as mobile wallet to its Indian customers. Further, the
partnership is expected to strengthen the customer base of MobiKwik as well.
According
to the recent report published by TechSci
Research, “India
Mobile Wallet Market Forecast and Opportunities, 2020”, India Mobile Wallet market is
projected to surpass USD6.6 billion by 2020. With increasing awareness level of
mobile wallet, rising smartphones coupled with growing internet penetration and
increasing acceptance of mobile wallet as a payment mode are driving the mobile
wallet market in India. Banking sector accounted the largest end user segment
followed by retail, telecom and transportation.
With increasing awareness level of mobile
wallet, rising internet users coupled with the increasing security measures is
driving the mobile wallet market in India. Furthermore,
Tier I cities including Delhi, Mumbai, Kolkata, Bangalore, Pune, etc.,
registered the highest number of mobile wallet users and net baking users,
while Tier II cities such as Jaipur, Lucknow, Chandigarh, Indore, Patna, etc.
are the emerging cities in terms of using different more of payment across the
country.