Mobikwik-Our competition is doing a disservice ...

Mobikwik-Our competition is doing a disservice to the ecosystem: Bipin Preet Singh

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Deal Subedar
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http://www.business-standard.com/article/compan...

But cashback is the game right now. You do it too.

It is, but nobody can sustain it. Not even Alibaba! They can’t do it, they won’t do it. No investor in the world wants to do it. For a low-margin business like payments and if you want to turn profitable, ultimately you will have to stop cashbacks. We’re changing that. We offer cashbacks in a different way. We won’t offer it on every transaction, but if you do three transactions with a merchant, we will give some back. If you want a cashback on every transaction, you are not a user that MobiKwik can sustain.

12 Comments  |  
12 Dimers
A2z1
Deal Major
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That’s the right way to do it though not lucrative or enticing from monetary standpoint for users but definitely long term goal for such companies.

When credit card companies or merchants charge 1%/2%/4%, we paif extra for using credit. That system changed by wallets or spoiled rather by offering cashback in reverse.
If this model is accepted where we have plenty of choices where we can pay by card, mobile, touch, pin, that’s great. Cashback game isn’t sustainable.

Stop feeding greed,
Sustain without bleed,
Facilitate everyone’s need.

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Deal Subedar
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Mobi**ck talking about disservice…Looks like they forgot their own LUM300 fraud https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif

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Deal Cadet
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Agree that no company can sustain cashback. But when you give an offer .. be committed to it. Don’t give an offer if you can’t sustain it..
Stopped using mobikwik after LUM300 fraud .

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Deal Subedar
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The are frauds. What right they have to comment about others.

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Deal Cadet
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Most of people know mobikwik is a cheater, i still remember how they cheated everyone by lumia, its an obvious thing if you dont have money then dont give offer, and also they did not gave even an apology, at that time they lost so many people, its been many months but still i did not touched mobikwik, i also did not installed their app, how can someone trust on the company like this, they are talking of ecosystem, i want to remind them if they had done this lumia thing in some country with strong cyber laws then would have known.

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Deal Newbie
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Main to kehta hoon mobikwik band ho jaye
Trans I wish mobikwik will vanish from market forever

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Deal Subedar
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Ha ha.. Bipin Sing Saab seems kindaa learning from mistakes made by MK.

I saw his reply tweets to people whom “why should I use mk when bank provides same service.”
His reply used to " NO BANK GIVES U 10% Interest ". Yeah that was a way to earn customer base. But now he is talking we can’t give cash back for every transaction. Ok. Understandable.

His replies to cash back complaints like " You are talking about free money , which is my “CHARITY”. So don’t demand it ( Reddit ama ).

TAKES DIFFERENT STANDS for same issues. Always running behind paytm. Seems SPAT BETWEEN him & Vijay Shekhar (Paytm ) @twitter. Funny thing is VSS blocked Bipin by saying "atleast someone needs peace in life " (Karma is bI***).

mk always wanted to be the 1st introduce . Wallet payment @ebay started by MK 1ST.
But security issues where there .

I felt like paytm was watching how mobikwik make mistakes. Then they introduced the same with much better work flow (big bazar Merchant payments ). Though paytm is not perfect . Issues is also there but they are spreading their wings by taking small small steps

Bipin Sir should focus on mk instead of looking at what paytm is doing.
He definitely have a vision about the product. can’t blame him for all the mistakes. But I felt like he couldn’t share his enthusiasm with his team at the same level.

I Don’t use their service now, like I used to. But one thing noticed is now they tried to keep their promises. Atleast they are trying to take caution regarding making offer (Whether they can afford it or not)

May be mk will come back. But most of us already lost trust on them. Right ?. For me That’s NOT DEFINITELY GONNA COME BACK. That insecurity whether my account would get blocked ? (I have only account), will some order Pizza using my cash ? THAT UNCERTAINTY IS DEFINITELY GONNA BE THERE naa, for most of us ?

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Deal Subedar
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AACHA to last year mobikwik mania kya tha ?

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Deal Lieutenant
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they cheated me in lumia fraud. i hate them.:twisted: https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif

though i recover my money by selling my lumia 435 at same price which i bought. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif
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@s_u_r wrote:

they cheated me in lumia fraud. i hate them.:twisted: https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif

though i recover my money by selling my lumia 435 at same price which i bought. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

luck u .. i am still stuck with it.. and whenever i see the phone i rem how they cheated !

Bal ganesh
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@gotrajk wrote:

@s_u_r wrote:

they cheated me in lumia fraud. i hate them.:twisted: https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif

though i recover my money by selling my lumia 435 at same price which i bought. https://cdn2.desidime.com/assets/textile-editor/icon_smile.gif https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

luck u .. i am still stuck with it.. and whenever i see the phone i rem how they cheated !


Apart from personal loss, even more embarrassing I encouraged a family friend to buy this phone for this offer, even now I feel guilty because of this Mobishit

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Deal Newbie
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They are unable to provide Cashback on every transaction because they are barely having customer who’s wallet they can block and steal the money in the wallet to lure other customer😎

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