MobiKwik to power Walmart's Best Price Stores in nine states

The mobile wallet company will enable payments by small businesses and kirana stores.

MobiKwik, a mobile payments solution firm, has announced that it will power 20 of Walmart's Best Price Modern Wholesale stores in nine states. Under this partnership, MobiKwik will be the exclusive mobile payments partner to Walmart, offering members of its Best Price programme, which comprises small businesses and kirana stores, a secure, swift and convenient payment option across channels.

The MobiKwik mobile payments solution will allow instant one-tap payments for transactions placed through the Best Price mobile app, and will also allow its users to make payments via the MobiKwik wallet on the Walmart Best Price website and in the physical stores. Further, by using the MobiKwik wallet, users will be able to get instant refunds, which are currently done manually and take seven to ten days.

Speaking about the tie-up with Walmart India, Bipin Preet Singh, founder and CEO, MobiKwik, says, "With this partnership, Walmart and MobiKwik are bringing the power of mobile payments to lakhs of small businesses and kirana stores in India. Mobile is now the fastest growing channel for the Indian economy, and we are happy to be a part of the Walmart India mobile story. This is just the beginning and we expect the partnership with Walmart to expand to the next level of payment and financial services for Best Price members in the coming months."

Scott Price, president and CEO, Walmart Asia, states, "Our new mobile app will give Best Price members a personalised and seamless shopping experience. We understand not just what customers want and need, but also where they want it and how they want to experience it. With our size and scale in India, we can serve customers quickly and more effectively with the whole range of channels we are offering."

Even as smartphone and internet penetration, including web access through mobile, rises rapidly, less than five per cent of India's 50 million small and medium businesses have an online presence. MobiKwik is committed to developing solutions that can support the successful transition of such businesses to mobile and digital commerce.