98.4 has announced its partnership with MobiKwik for cashless payments
India: 98.4, a leading chain of retail
pharmacy stores has announced its partnership with Mobikwik, India's largest
digital payments company to allow its users to enable convenient, speedy, safe
and reliable cashless payment solution.
In
addition, this collaboration heightened the customer experience. The number of
Mobikwik users in India are approx. 30 million, which is anticipated to support
the 98.4 to increase its presence across the country by providing the pharmacy
care services.
TechSci
Research analyses that with this partnership, both the companies are enhancing
their customer experience along with strengthening their market presence and
enhancing brand recognition.
Increasing
awareness level of mobile wallet, rising internet users and increasing security
measures are the key factors, which have been 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,
while Tier II cities such as Jaipur, Lucknow, Chandigarh, Indore, Patna, etc.
are the emerging cities in terms of mobile wallet usage across the country.
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.