Digital banking platform, MobiKwik announced its partnership with Cashfree Payments, a payment and API banking company. After the collaboration, the companies will offer interest-free credit for users 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 per cent supercash as its feature on a minimum transaction value of Rs 499. 

MobiKwik ZIP with over 95 per cent success rate, allows users to pay bills and other transactions with their credit limit. With ZIP, users can shop at over one lakh brands of MobiKwik at the checkout and just pay later.  

Merchants can also seamlessly integrate MobiKwik ZIP into their existing Cashfree Payments checkout, they 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. 

Upasana Taku, Chairperson, co-founder, and COO of MobiKwik, said, “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.” 

Reeju Datta, co-founder, of Cashfree Payments said, “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.” 

Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik has grown to over 140 million registered users. Cashfree Payments is a leading payment and API banking solutions company with processing transactions worth $40 Billion annually, the company leveraged technology to lead payment disbursals in India with more than 50 per cent market share among payment processors.