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MobiKwik, India's largest fintech company, has announced the appointment of Sushant Kashyap as its Business Head for Payment Gateway and International Business.
Meanwhile, the company is targeting a 400 percent growth in this business in the next one year.
Prior to joining MobiKwik, Sushant was associated with Delhivery as the Senior Vice President, Sales for over 4.5 years and 10+ years at Bharti Airtel, managing multiple portfolios across sales and marketing. He was heading strategic alliances for Airtel Online.
Sushant Kashyap, "India has witnessed robust developments in the digitization of payments in India in the last 2 years, and more so post demonetization. MobiKwik is on track to clock a 400 percent growth in this fiscal and I am thrilled to be a part of this exciting journey. As per a recent report by BCG titled 'Digital Payments 2020: The Making of a $500 billion ecosystem in India', our country is expected to process a gross payment volume of $220 billion by 2020. I envisage that the MobiKwik Payment Business will process in excess of $20 billion in online payments processing in the next 2-3 years.
Kashyap said, "We aim to further strengthen our partner base across existing industry verticals and will particularly be focusing on verticals like education, financial services, utility, and new age startup companies."
The company has also rolled out of digital insurance on its app this year in November.
Mobikwik has launched sachet sized products that will cater to emerging affluent and mass customer base across the country.
The insurance purchase is extremely simplified and a user can buy insurance in less than 10 seconds. A user can buy insurance of Rs. 1 lakh for a year for as low as Rs. 20.
MobiKwik's Payment Gateway was launched in the year 2011 with a vision to simplify payment systems in India and support e-commerce startups and large enterprises with digital payment requirements.
It supports all major instruments like credit and debit cards, net banking, EMI, UPI, and wallets. It has thousands of partners spread across a wide range of industries including food, travel, utilities, telecom, health, education, auto, finance, and e-commerce.