mobikwik sbi card payment competition

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andromeda

This may irk most users here. but here is today’s experience with mobikwik

I was making payment towards SBI credit card with debit card via mobikwik app . And before even the app loads confirmation screen upon giving OTP, I received alert from SBI saying the payment is received, after around 5 seconds, the app gave me confirmation screen. I’m not quite sure who among the two won.

This is something least expected from Mobikwik and SBI together in the game. Now that I appreciated both in public, I’m sure I will have some surprises in store next time I use any of their services

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SBI+Mobikwik instant – even I am surprised for same combo

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caks2006407 wrote:

SBI+Mobikwik instant – even I am surprised for same combo

Likewise I see HDFC bill pay also processing most VISA/ master card payments instant.

And other surprising things are

  • Amex payment got processed next day (within 24hrs)
  • Refund for failed transaction is reverted on 2nd day, failure is due to network interruption
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Something specific with SBI card. HDFC billpay + SBI is instant.

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Thats sbi feature. Even if you pay via billdesk sbi processes it instantly.

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Today my Sbi CC bill payment failed via mobidick
Reads as PG transaction any idea what is it ?

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SastaRaju wrote:

Today my Sbi CC bill payment failed via mobidick
Reads as PG transaction any idea what is it ?

PG=Payment Gateway

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andromeda wrote:

Could be the case. They may also have multiple PGs to handle the traffic. May be we should keep observing the OTP page to have a rough idea if the payments settle faster or slower.

PGs also need Bank account to receive payment.

I think Mobikwik’s (Zaakpay PGs) acquirer bank account is SBI.

If acquirer bank is SBI and you used SBI card then you receive OTP sms from “SBIOTP

also check your SBI bank ON-US transaction statement starting with “by debit card SBIPG

other SBI bank OFF-US transaction statement starting with “by debit card OTHPG

@caks2006407

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abhishek012 wrote:

PGs also need Bank account to receive payment.

I think Mobikwik’s (Zaakpay PGs) acquirer bank account is SBI.

If acquirer bank is SBI and you used SBI card then you receive OTP sms from “SBIOTP

also check your SBI bank ON-US transaction statement starting with “by debit card SBIPG

other SBI bank OFF-US transaction statement starting with “by debit card OTHPG

@caks2006407

Payment for SBI card, using Axis visa debit card. So mine doesn’t fall under On-US

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andromeda wrote:

Payment for SBI card, using Axis visa debit card. So mine doesn’t fall under On-US

ok, Mobikwik (Zaakpay PGs) maybe also have bank account in both bank or other high possibility is mobikwik use “Visa Bill Pay”.

Visa Acceptance for billers lets you provide customers with more payment options and Visa services such as online bill pay. Lower costs and increase profits!

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abhishek012 wrote:

ok, Mobikwik (Zaakpay PGs) maybe also have bank account in both bank or other high possibility is mobikwik use “Visa Bill Pay”.

Visa Acceptance for billers lets you provide customers with more payment options and Visa services such as online bill pay. Lower costs and increase profits!

It is billdesk as far as I remember. And these days many providers are using different PG based on the card details.

Although they are quite a lot of failures in the transactions, they are improving their process.

Similar is the experience with HDFC BillDesk. Both used to take 2-3 days to effect the payment, but of late it is settled in seconds to minutes. Even then, at times, they take 2-3 days.

Edit: Mobikwik amex payment was settled in less than 24 hrs, which earlier used to take 3-4 days

The end motto remains the same, that is to cut costs. No services can run forever burning investors’ money

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andromeda wrote:

It is billdesk as far as I remember. And these days many providers are using different PG based on the card details.

Although they are quite a lot of failures in the transactions, they are improving their process.

Similar is the experience with HDFC BillDesk. Both used to take 2-3 days to effect the payment, but of late it is settled in seconds to minutes. Even then, at times, they take 2-3 days.

Edit: Mobikwik amex payment was settled in less than 24 hrs, which earlier used to take 3-4 days

The end motto remains the same, that is to cut costs. No services can run forever burning investors’ money

just read this news – CRED has posted operating revenue of Rs 52 lakh by spending Rs 378.4 crore. The only saving grace was the financial income of Rs 17.56 crore it earned via interest on deposits, documents filed by the company with the MCA shows.

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abhishek012 wrote:

just read this news – CRED has posted operating revenue of Rs 52 lakh by spending Rs 378.4 crore. The only saving grace was the financial income of Rs 17.56 crore it earned via interest on deposits, documents filed by the company with the MCA shows.

Apples vs Oranges. Cred is a recent and costly player. Their business model is different.

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