Walmart has selected mobile payment solution provider MobiKwik to power 20 of its chain of outlets named Best Price Modern Wholesale in nine Indian states.
Under the deal, MobiKwik will be act as exclusive mobile payments partner to Walmart offering members of its Best Price program, which includes small businesses, deliver a secure, swift and convenient payment option across channels.
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The MobiKwik mobile payment solution will enable instant one-tap payments for transactions via the Best Price mobile app.
Through this deal, users can also make payments through the MobiKwik wallet on the Walmart Best Price website and in the physical stores.
Also, users can receive instant refunds compared to the current policy which involves manual processing and may take up to 7 to 10 working days.
MobiKwik founder & CEO BipinPreet Singh said: "With this partnership, together Walmart and MobiKwik are bringing the power of mobile payments to the lakhs of small businesses and kirana stores in India.
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By GlobalData"Besides making payments via the wallet, Best Price members who use MobiKwik will get refunds and incentives from Walmart ‘instantly’ in their wallets. Members will also be able to load cash into their MobiKwik Wallets to make purchases via the Best Price mobile app."
Walmart Asia President and CEO Scott Price said: "Our new mobile app will give Best Price members a personalized and seamless shopping experience."
