MobiKwik, the new entrant in the bus booking industry, with over 32 million patrons, today announced its industry first initiatives to capture the lead position in the industry by end of 2016. The company has announced partial payment for ticket reservation and cash pick up for bus tickets booking, further simplifying the user’s journey. MobiKwik targets doing 25000 daily bus bookings by December 2016.
Speaking on the announcement, Upasana Taku, Co-founder, MobiKwik said: “We are currently doing 4000 daily bus bookings and have already seen the service grow hundred percent in the past one month. This tremendous growth has encouraged us to look at bus booking as a separate revenue stream. With this focus, we have launched partial payment booking and cash pick up for bus tickets. Today, we have the most lucrative offering in the bus booking industry that will help us claim a significant market share by the end of this year.”
The overall bus booking segment is valued at Rs. 20,000 crores in India and online transactions contribute nearly 15 percent to this segment. The segment is growing and much of it is attributed to the booking through mobile apps. The private bus travel market is estimated at Rs. 17,000 crore and is expected to grow by 40% by 2018. The state-run bus travel market is estimated at Rs 44,000 crore and is expected to grow by 20% by 2018.
MobiKwik’s bus booking service is available pan-India and is available on MobiKwik app and website.
MobiKwik, is India’s largest independent mobile payments network, connecting 32 million users with 100,000 retailers. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised three rounds of funding from Sequoia Capital, American Express,Tree Line Asia, MediaTek, GMO Payment Gateway and Cisco Investments. MobiKwik aspires to be the largest source of digital transactions in India.
One of the leading digital payments platforms for online and offline merchants, MobiKwik is powering payments for IRCTC, Uber, Meru Cabs, Big Bazaar, OYO Rooms, Zomato, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Domino's, Burger King, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Barista, Food Panda, Nearbuy, Van Heusen, Allen Solly, Louis Phillips, GoDaddy, MakeMyTrip.