Gurugram, September 2023.

MobiKwik, a leading digital banking platform, today announced its partnership with Cashfree Payments, a leading payments and API banking company, to offer the convenience of interest-free credit for its users at their fingertips by integrating ‘ZIP Pay Later’ with Cashfree Payments’ Payment Gateway. It will enable users to use their ZIP credit limit of up to Rs 60,000 to pay at over 20,000 online merchants. The ZIP Pay Later option will be launched with 10% Supercash on a minimum transaction value of Rs 499.

Upasana Taku, Chairperson, Co-founder & COO of MobiKwik, said, “We believe in making transactions seamless and empowering consumers by offering them more choices to make informed financial decisions. We are glad to extend our partnership with Cashfree Payments, bringing together the convenience of our popular ZIP Pay Later option with a trusted and efficient payment gateway platform like Cashfree Payments to make the process more seamless.”

MobiKwik ZIP ensures a seamless payment experience with an impressive success rate of over 95%. The ZIP pay later option allows users to pay bills, shop for clothes, groceries, and electronics, order food, medicines, and much more with their credit limit. With ZIP, users can shop at over one lakh brands simply from the comfort of their homes using MobiKwik at the checkout and just pay later.

Reeju Datta, Co-Founder, Cashfree Payments said, “At Cashfree Payments, we are committed to empowering our merchants with seamless payment experiences that are both scalable and affordable. With this partnership, we aim to take this mission to the next level. Our goal is to enable customers to pay for their purchases in the most flexible and convenient manner possible, without any unnecessary hassles. We hope to drive greater financial inclusion across India and deliver even more value to end customers by working closely with MobiKwik.”

Merchants can also seamlessly integrate MobiKwik ZIP into their existing Cashfree Payments checkout, offering their customers a cutting-edge payment solution. With a success rate of over 95%, merchants can be assured of providing a smooth payment experience to their users. By offering credit options, merchants can also witness an upsurge in conversions, as customers embrace the flexibility of deferring payments.

MobiKwik ZIP is applicable on top brands across the country. The partnership between MobiKwik and Cashfree Payments is set to bring significant benefits to customers, merchants, and both companies involved.