Quickr negotiates with MobiKwik,Paytm for in-site payment options on the portal

The integration of payment services will allow the classifieds sites to provide a complete set of offerings to consumers across categories.
Quickr negotiates with MobiKwik,Paytm for in-site payment options on the portal
In bid to stay ahead of the competition, Bengaluru-based online and mobile classifieds website, Quikr negotiates with prominent payment services providers to integrate their offerings into its portal, says a report in ET Retail.
Warburg Pincus and Tiger Global-backed company has held discussions with two of the country's top mobile wallet providers, MobiKwik and Paytm, which, if successful, could see it provide in-site payment options to consumers as part of end-to-end offerings.
Expressing views about the advance talks, Upasana Taku, head of business development and merchant operations at MobiKwik said: 'Rival classifieds venture OLX, backed by South African internet and media company Naspers, is also considering providing similar services, according to "We have been talking to both for almost a year.'
Further she added,"They also enable payments right now but it is only to help the buyer have a premium listing ...These classifieds sites want to monetise on transactions they are empowering. Based on this consumer sentiment, they are getting more aggressive and interested in this."
As per the report, Mumbai-based Citrus Pay, is also believed to have had discussions with Quikr. Citrus Pay founder Satyen Kothari declined to confirm this.
The need to provide payment services to existing and potential customers comes at a time when the classifieds sites are facing increased competition from realty and auto portals, two lucrative segments with high margins for which both Quikr and OLX are not only battling each other but also competing with companies such as CommonFloor-.com, Housing.com and CarTrade.com.
The integration of payment services will allow the classifieds sites to provide a complete set of offerings to consumers across categories.
"They (Quikr and OLX) won't participate in all transactions. But there is a large amount of purchases especially with phones, microwaves or furniture in the less than 20,000 range and that number of transactions is significant. For that amount, people are willing to do the transaction digitally," Taku said.
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