MobiKwik renamed as 'MobiKwik Payment Gateway'

Mobile wallet provider MobiKwik renamed its payment gateway as 'MobiKwik Payment Gateway' and aims to have over USD 5 billion worth of transactions on the platform by the end of this fiscal.

MobiKwik Payment Gateway has already done transactions worth USD 1.8 billion this year.

MobiKwik said in a statement  The new age payment gateway has been introduced with proprietary features that deliver best in industry transaction success rates and ensures that every transaction is secure. With a strong focus on system security, MobiKwik Payment Gateway has 24/7 physically monitored data centre with restricted and logged access, system level firewalls and hardware level encryption. MobiKwik Payment Gateway has been launched with a vision to simplify payment systems in India and support new businesses with customised digital payment requirements.

The Payment Gateway supports all major instruments like credit and debit cards, net banking, UPI and wallets. The company is eyeing a significant share of USD 500 billion digital payments market by 2020.