Mobikwik is an Indian fintech company and one of the largest mobile wallets in the country. The company was established in 2009. It started as a mobile wallet but has expanded to include various other payments. Mobikwik is also integrated with UPI, allowing peer-to-peer payments through that platform. More than 120 million users and 3 million retailers currently use Mobikwik. With such a large userbase, it is no surprise that online casinos opted to support this payment method.
Mobikwik is a mobile app that you have to download and set up before using this service. Players can fund the app directly through their bank if supported or through debit or credit cards. Mobikwik encrypts your connection to their server to ensure your data and transactions remain secure.
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How Does Mobikwik Work?
Setting up this mobile wallet is a straightforward task. The first step is to install the app from your device’s AppStore. Open the app and fill out the required information. You will need to enter a valid phone number and verify it through a one-time password. Once set up, you can start using Mobikwik. You need to fund the mobile wallet by transferring funds from your credit or debit cards or directly from your bank account.
Once you have money in the mobile wallet, you can use it to deposit money. Alongside casino deposits, you can use Mobikwik to make bill payments, recharge your mobile, or transfer money to others.
How to Deposit with Mobikwik?
Depositing money with Mobikwik is a simple task. Log into your casino account and open the cashier/banking page. Select Mobikwik from the list of payment methods and enter the amount you want to deposit. The casino guides you through the authorization process. Once the transaction is approved, it should appear in your account instantly. After the deposit, you can then use the money to play any casino game you want!
How to Withdraw with Mobikwik?
Withdrawing funds with Mobikwik is similar to depositing money. You open your online casino’s cashier or banking page and pick Mobikwik from the list. Enter how much you plan to withdraw and any other information the casino requests. Once you approve the transaction, the casino will start processing your cash-out request. After the request is approved, the funds should appear in your Mobikwik account quickly.
Transfer Times, Fees, and Security
Online payment methods have to utilize high-grade security to keep their audience safe from hackers. Mobikwik understands this very well. That is why your connection to them is secured using TLS technology. The connection is encrypted and authenticated using the AES 128bit encryption key. Provided you do not share your password, Mobikwik offers robust security with low odds of being breached.
The payment method offers instant deposits, which is very convenient for players. You can immediately jump in and start playing after the transaction clears. Withdrawals take a little more time because casinos need to approve the cash-out request. However, the funds should become available immediately after the casino carries out the withdrawal.
You pay a nominal fee when depositing into Mobikwik, which is how the payment method makes money. Deposits and withdrawals from online casinos should not incur an extra payment.