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MobiKwik appoints former Jabong exec as payment gateway biz head
Rukaiya Rangwala

Digital wallet major MobiKwik has appointed former Jabong vice-president Rukaiya Rangwala as the business head of its payments gateway business. Last week, the company had re-launched Zaakpay as MobiKwik Payment Gateway.

Rangwala, a technology and e-commerce industry veteran with over 15 years of experience, has worked across the US, Singapore, Japan and India.

“Her (Rukaiya) extensive experience in business development, expertise in managing operations and strong financial understanding will be instrumental as we aim to grow over 200% by next year,” said MobiKwik co-founder Upasana Taku.

The company aims to have over $5 billion worth of transactions on its platform by the end of 2017-18. “MobiKwik Payment Gateway has already done transactions worth $1.8 billion this year,” it said.

MobiKwik had re-launched the gateway with new updates such as flagging a risky transaction even before it reached the banks, and the auto retry feature that would direct the user back to the page if a transaction failed.

The company said that it was expanding its payment gateway team to 100 across its Delhi, Mumbai, Pune, Kolkata and Bangalore offices by the end of the current financial year. At present, it powers payments for over 30,000 ecommerce websites and apps, and aims to double the figure this fiscal year.

Its clients include UBER, Zomato, Domino’s, IRCTC, Grofers, Instamojo and Easemytrip, among others.

MobiKwik, which claims to have a network of over 2 million direct merchants and over 60 million-plus users, has so far raised about $115 million from Bajaj Finance, Sequoia Capital, Net1, Tree Line Asia, Cisco Investments, American Express and MediaTek. In August, it had raised about Rs 225 crore from Bajaj Finance Ltd.

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