Business

December 25, 2017

Hike to allow cab bookings, bill payments


hike-car-bookings

In order to accelerate growth, Hike is planning to expand its digital wallet offerings by adding services such as cab, bus and train booking, movie tickets and bill payments.

Providing more information, Kavin Bharti Mittal, founder of Hike Pvt. Ltd said, “Our users want more services. So we’re heads down working hard to bring things like booking taxis, movie tickets and more to the platform. Expect these to start rolling out as early as next quarter.”

"About 10 percent of the overall transactions are on UPI (Unified Payments Interface) and the feedback we got was to have more services on the platform. So our platform will also become a powerful distribution model for partners who want to come on-board to reach out to larger audiences," Mittal added.

As per Mittal, this move would resonate with Smartphone users across all tiers and specially those who have mid-level or entry level phones that offer limited storage and therefore are not able to download many apps.

Launching its mobile wallet in June 2017, the company has recorded 10 million transactions and has 25 million wallet users.

The company launched in December 2012, has raised $261 million in funding. In August 2016, it raised its fourth round of funding of $175 million led by China’s Tencent and Taiwan’s Foxconn at a valuation of $1.4 billion in August 2016. Other investors in Hike include Tiger Global, Softbank and Bharti Group.

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