Introduction:
Mobisafar uses a semi-closed wallet and a powerful agent network to offer payment solutions to the general public. enables agents to provide services including domestic money transfers (DMT), cash withdrawals, mini ATMs (AEPS), applications for PAN cards, trip bookings, insurance, BBPS, and Indo Nepal money transfers, among many other things.
The goal of Mobisafar is to create a widespread public banking infrastructure that will increase accessibility to high-quality banking services for Indians living in both urban and rural areas. This is a component of it’s objective to close the accessibility and availability gap for basic banking services for the general public. The country’s 24 states now contain a network of micro ATMs owned by Mobisafar CSP.
Company Highlights:
| Company Name | Mobisafar |
| Headquarter | Ludhiana, Punjab, India |
| Industry | Financial Services, E-Commerce |
| Founded | 2015 |
| Founder | Abhishek Kumar Pandey |
| Mobisafarbsite | https://www.mobisafar.com/ |
Mobisafar About:
On August 13, 2015, Mobisafar Services Private Limited (MSPL), a startup operating as a Private Limited Indian Non-Government Company, was established in India (Seven years and nine months old). Its registered office is in the Indian Punjab city of Ludhiana.
Formerly known as Tinku E-Services Private Limited, the Corporate. The business offers e-commerce services. The company has an active status and has submitted all of its annual returns and financial statements through March 31, 2022. According to the Ministry of Corporate Affairs (MCA) documents, it is a company limited by shares with an authorised capital of Rs 2.10 cr and a paid-up capital of Rs 0.10 cr.
Industry:
The goal of Mobisafar is to create a widespread public banking infrastructure that will increase accessibility to high-quality banking services for Indians living in both urban and rural areas. This is a component of Mobisafar’s objective to close the accessibility and availability gap for basic banking services for the general public. The country’s 24 states now contain a network of micro ATMs owned by it’s CSP.
Founder & Team:
Abhishek Kumar Pandey founded it. He serves as CEO. Director and National Manager Ajitesh Pandey. The national manager of HR and CFO is Shweta Pandey. It was established in 2015.
Startup Story:
In collaboration with YES Bank and the National Payments Corporation of India (NPCI), former Indian cricket team captain Kapil Dev launched Mobisafar Services Private Limited, a Fintech start-up with headquarters in Ludhiana, at a resort in Gurugram.
According to the company, it is present in more than 13000 pin codes and has 1.5 lac BC agents. It offers customers in rural areas of the country services including domestic money transfers, Aadhar enabled payment systems, micro ATMs, cash collection, bill payments, recharges, and travel reservations.
The existence of the company in rural India, according to Kapil Dev, will benefit the Make in India and Atma Nirbhar Bharat Initiatives. The “Mobisafar Virtual RuPay Prepaid Card” offers reloadable limits and easy access to wallet via PC and mobile apps. It can be used to reserve tickets for flights, lodging, retail purchases, movies, and other events. The closest Mobisafar retail location is where customers can apply for the virtual prepaid card.
According to Abhishek Kumar Pandey, MD & CEO, Mobisafar, this relationship with YES BANK and Rupay will serve as a catalyst for the development of fintech services that truly meet the needs of both businesses and consumers. The goal of the Indian government’s novel scheme is to
This partnership with YES BANK and Rupay will work as an enabler to create fintech services that really match the needs of both the business and the consumer, according to Abhishek Kumar Pandey, MD & CEO of this company. The government of India’s ambition for “Make in India” and “Atma Nirbhar Bharat” is in accord with this original concept.
Anita Pai, Chief Operating Officer of YES BANK, stated that it is glad to engage with fintechs that are addressing future payment issues as India becomes the centre for payment innovation. Through this special collaboration with it, Mobisafar hopes to help consumers and small business owners better manage their expense demands without the expenses and dangers of using cash.
It is excited to work with cutting-edge fintechs to not only address customer requirements but also to lead innovations that will strengthen the growing ecosystem.
Mission & Vision:
To provide for the needs of the young, aspirational Indians and to establish The MOBISAFAR as a marketplace for services. service provision across a number of Mobisafarll-defined verticals backed by receptive, regularly-trained retailers.
Give customers choices so they may make an informed decision With the aid of a reliable and user-friendly MOBISAFAR technological platform, tie-ups with service providers are made following rigorous quality checks to guarantee the highest level of service. By meeting the diverse service needs of the young, aspirant Indians, to become one of the top and largest services retailer in India.
Name & Logo:
Tagline is Making India Digital
Business Model:
Mobisafar engages in the aggregation, distribution, and processing and collection of payments for services. This company was first established to support the country’s Telecom/DTH Operators, Multiple Services Providers, and Banks, Pan India, as well as to give Indians simple access to pay for services at nearby retail establishments.
In the fields of bill payments, money transfers, and recharges, it is still the market leader. A well-known business in the payments and remittances sector is Mobisafar. Through a network of thousands of franchise stores around the nation, it is a leading provider of several services including utility bill collection, insurance premiums, mobile and DTH recharge, travel tickets, and money transfer services on a single platform.
Revenue Model:
Revenue for Mobisafar is $5.7 Million.
Products & Services:
Mobisafar thinks that everyone should have access to technology. Technology is nothing more than a fundamental right that ought to be available to everyone. Another organisation that adheres to Mobisafar’s principles is Mobisafar.
Through its extensive agent network and Neo Banking Platform, it offers payment solutions to the general public. Agents are able to offer services like Domestic Money Transfer (DMT), cash withdrawals, Mini ATMs (AEPS), PAN Card applications, travel bookings, insurance, BBPS, Indo Nepal Money Transfer, and much more.
Intercountry Money Transfer Domestic money transfers allow you to move money from cash to accounts inside your own nation. It enables instantaneous transfers of funds to all Indian banks that support IMPS, the around-the-clock.
Within 5 to 10 seconds, the money will be credited to the recipient’s bank account. Key Advantages A simple, quick, and safe way to send money to friends and family Even on Sundays and public holidays, you can send money. No standing in line, filling out forms, or going to a bank is required to transfer money.
Funding & Investors:
Over the course of 82 investment rounds with 398 investors, Mobisafar and its rivals have together raised more than $449M in funding.
Employees:
There is no data of it.
Challenges Faced:
There is no data of it.
Acquisitions:
There is no acquisition yet.
Growth:
The advantages of social security programmes including PMSBY, PMJJBY, and APY have been extensively promoted and educated by Suryoday Small Finance. Through the cooperation, Mobisafar would make it possible for more underbanked customers to take use of these programmes.
The alliance aims to increase financial inclusion by giving underbanked people access to essential banking services online, even in the most rural areas of the nation. Through its 1.38 million Banking Mitras, Mobisafar will assist Suryoday Small Finance Bank in onboarding new customers digitally through eKYC and enabling banking services including creating savings accounts, making deposits and withdrawals, checking balances, etc.
Partners:
Indian cities of Mumbai (Maharashtra) and Ludhiana (Punjab), June 6 (ANI/SRV): One of India’s top small finance banks, Suryoday Small Finance Bank, said today that it has partnered with Mobisafar to offer banking services through the company’s franchisees and Business Correspondent network all over the country.
Competitors:
Payism.biz, Payworldindia.com, tnebnet.org, and Tangedco.gov.in are competitors of the Organization.
Awards & Achievements:
There is no data of it.
Mobisafar Future Plan:
The cooperation between Mobisafar and Suryoday Small Finance Bank Ltd allows us to offer banking BC point services throughout all of our Mobisafar MITRAs in India, and we are delighted and humbled to announce it.
Regarding our expansion goal, it is on target to reach 2,50,000 Active Mobisafar MITRAs by March 2023 and 7,50,000 by March 2026. Through this partnership, it will be able to join and activate banking services at our Mobisafar MITRAs, further ensuring the scalability of our growth strategy.
FAQs :
What does Mobisafar do?
Underbanked people can use agent-based payment systems from it. Through its network of agents, it offers banking and payment options. The Aadhar Enabled Payment System is also available (AEPS). Money transfers, cash withdrawals, bill payments, recharge services, and many other things are among its offerings. Both iOS and Android mobile devices support the mobile application.
When was Mobisafar founded?
It was established in 2015.
Who is the founder of Mobisafar Corporation?
It was started by Abhishek Kumar Pandey.
Who is the CEO of Mobisafar Corporation?
The CEO is Abhishek Kumar Pandey.
Who are the main competitors of Mobisafar?
Payism.biz, Payworldindia.com, tnebnet.org, and Tangedco.gov.in are competitors of Mobisafar.
What is the charges for Mobisafar money transfer?
CDM – Below 25000 – Rs. 25 per trans. Branch – Below 50000 – Rs. 59 per trans. Below 50000 – Rs. 59 per trans.
How much is international transfer fee by bank?
Every bank is different, but in general you can expect them to take as much as 3-4% of your total transfer as a fee when you send money internationally. Thankfully, despite that, a lot of banks will try to cap the amount they charge their customers. This will vary depending on the institution.
What is the company profile of Mobisafar?
MOBISAFAR SERVICES PRIVATE LIMITED is a Private incorporated on 13-08-2015. It is classified as a Non-govt company and is registered at RoC-Chandigarh. Their state of registration is Punjab. Its authorized share capital is 1000000.00 and its paid-up capital is 1000000.00.
Which bank partnered with Mobisafar?
Mobisafar Services Private Limited partners with Suryoday Small Finance Bank Ltd for providing banking services on PAN INDIA basis by Sharman Joshi.
Which bank has established a cooperation with Mobisafar?
Mobisafar Services Pvt Ltd Partners with Suryoday Small Finance Bank Ltd.
Conclusion:
It uses a semi-closed wallet and a powerful agent network to offer payment solutions to the general public. enables agents to offer services including domestic money transfers (DMT), cash withdrawals, mini ATMs (AEPS), applications for PAN cards, trip bookings, insurance, BBPS, and Indo Nepal money transfers, among many other things.
The goal of Mobisafar is to create a widespread public banking infrastructure that will increase accessibility to high-quality banking services for Indians living in both urban and rural areas. This is a component of Mobisafar’s objective to close the accessibility and availability gap for basic banking services for the general public. The country’s 24 states now contain a network of micro-ATMs owned by Mobisafar CSP.
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