This mechanism is introduced initially in few dine-in restaurants in the Capital and would soon extend it to Big Bazaar and other retail chains, Bipin Preet Singh said.rn
MobiKwik, mobile wallet company has introduced 'Bill Push', which is being billed as the next big innovation in offline mobile payments space, reported Business Line.
This new mechanism which is being rolled out in dine-in restaurants and retail chains across India -- is a significant level up from the current SMS/OTP approach launched earlier by MobiKwik with Big Bazaar, Cafe Coffee Day and Archies etc.
"Bill Push is going to improve payment experience for customers as it provides an enhanced value proposition", said Bipin Preet Singh, Founder and Chief Executive Officer, MobKwik.
This mechanism is introduced initially in few dine-in restaurants in the Capital and would soon extend it to Big Bazaar and other retail chains, Bipin Preet Singh said.
Elaborating on the new payment mechanism with an example, Bipin said one time password (OTP) or SMS will no longer be required for processing payments. In the case of dine-in restaurants, the diner mentions he/she wants to pay with MobiKwik and passes his/ her mobile number (registered with MobiKwik) to waiter/manager. The waiter/manager enters it in the POS machine. The diner then gets the complete bill pushed to MobiKwik app as a standalone notification.
Bipin said that the user would have to just click on 'Pay Bill' tab on the notification and the bill is instantly paid.
While the OTP process takes anywhere between 10-15 seconds and is fast by itself, 'Bill Push' payments can now happen within five seconds.
There is an added benefit for the customers of the entire Bill saved in smart phones for safe keep and reference at a later time.
"We often tend to misplace paper-based bills. This 'Bill Push' will address that challenge", Bipin said.