Due to this implementation, all Visa customers will be able to pay their credit card bill on MobiKwik, the company planning to extend the new service to members of other branded credit cards.
The move is also expected to help MobiKwik in targeting the expanding credit card market in India. Moreover, usage of these cards is said to have experienced a rapid rise among urban consumers the country, according to Verdict.
The Indian credit card industry is expected to grow at a rate of 25% year on year, according to the Reserve Bank of India. In the fiscal year 2017-2018, the total credit card spends from about 33 million credit cards stood at about INR 450 billion (USD 6.33 billion).
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