RBI gives in-principle nod to Mobiwik to set up payment system

 Mobile wallet firm MobiKwik has announced that its users across the country will be able to pay their utility and convenience bills using the wallet as the company has received an inprinciple approval from the RBI to set up a Bharat Bill Payments Operating Unit (BBPOU). The company will now be integrated in Bharat Bill Payment System (BBPS), a bill payment system by National Payments Corporation of India (NPCI), offering interoperable and accessible bill payment service to customers through a network of agents, MobiKwik said in a release.

"We are determined to serve the entire country with digital payments and enable Indians from rural or urban areas in making seamless and secure payments from their mobile phones," MobiKwik Co-founder Bipin Preet Singh said. Founded in 2009, MobiKwik claims to have a network of more than 250,000 direct merchants and 45 million-plus users.