Though still far behind, MobiKwik says will close gap with Paytm in users

Digital wallet owner MobiKwik claims it is confident of closing the gap with segment leader Paytm in user base fairly soon. However, with Paytm's 280 million users, MobiKwik has to more than double its own, from the current 100 mn."In the past three months, we have struck a few strategic partnerships -- with BSNL, IndusInd Bank, IDFC Bank and Bajaj Finance -- and are using their customer base to grow. The gap (with Paytm) is definitely narrowing. I believe we are neck to neck in merchant acceptance across cities," said Upasana Taku, co-founder and director at MobiKwik. Last November's demonetisation helped MobiKwik double its user base to 65 mn users this year. Another 35 mn came through the partnerships mentioned earlier. Taku said BSNL (the government's telecom arm) alone has close to 100 mn subscribers. "They didn't have a wallet of their own. They have launched a MobiKwik-BSNL co-branded wallet to their customers, that can be used for payment to BSNL and at MobiKwik's two million .