Mobile wallet major, MobiKwik has renamed its Payment Gateway Zaakpay as MobiKwik Payment Gateway and aims to have over $5 Billion worth of transactions on the platform by end of this financial year.
MobiKwik Payment Gateway has already done transactions worth $ 1.8 billion this year.
The Payment Gateway supports all major instruments like credit and debit cards, net banking, UPI, and wallets.
MobiKwik's revamped Payment Gateway deploys strict measures which are on par with the measures adopted by the best banks. It's a game changer in the digital payments space that equips it to handle the exponential rise in digital transactions and keeps a strict check on risky transactions," Bipin Preet Singh, Chief Executive Officer of MobiKwik said.
The company has also added safety features like flagging a transaction as "risky" even before it is sent to banks. Other new features such as "Auto-Retry", that brings the user back to the page where a transaction fails, lends robustness to the payment gateway.
"Such features help in arresting abandoned transactions and boosting success rates," Singh said, adding that MobiKwik payment gateway promises cutting-edge performance, enhanced customer interface, transparent pricing and next to zero-transaction failures.
MobiKwik Payment Gateway has been launched with a vision to simplify payment systems in India and support new businesses with customised digital payment requirements.
SMS and email based payments is another hallmark of the new Payment Gateway, allowing users to pay for doorstep deliveries via credit/debit cards instead of worrying about having cash on hand, added the statement.
Mobikwik's payment gateway currently powers payments for more than 3,000 e-commerce websites and apps