MobiKwik to spend Rs. 100 cr on brand campaign

The mobile wallet company has appointed Happy Creative Services as its creative agency.

Mobile wallet company MobiKwik has awarded its creative duties to Happy Creative Services and its media duties to XPosure mass media. It plans to spend Rs. 100 crore this year on a 360-degree multi-media brand campaign. The campaign will include exposure across television, out of home, radio and digital mediums, with the first leg kicking off this month. With the advertising campaign, the company aims to further catalyse the booming market for wallet services which currently has around 35 million users.

Havas is leading the OOH campaign for the brand. Almost 1000 OOH and ambient media units have been put across Delhi, Mumbai, Bengaluru, Pune, Hyderabad, Chennai and Kolkata.

As per the company's advertising plans, the first Mobikwik campaign will run for three months, followed by another campaign that will be launched during the festive season. The brand's TV campaign will follow close on the heels of its radio and OOH campaigns.

Saurabh Srivastava, CMO, MobiKwik, says, "With our brand campaign, we aim to make MobiKwik a household name across the country and ensure many more consumer interactions with the brand. The campaign also aims to fuel the adoption of mobile wallet as the preferred mode of payment amongst a host of new customers who are as yet unaware of its benefits. With this campaign, we are confident of increasing our user base from 17 million to 30 million in the next three months, and achieve a user base of 100 million users by the end of the year."

Kartik Iyer, CEO and co-founder, Happy Creative Services, adds, "There are many brands which operate in the payment space, but yet don't operate like a true wallet. MobiKwik is actually the one true player in the digital payments space. In a scenario where the country is quickly changing its behaviour due to tech interventions at various touch points, it is an exciting time for a brand like MobiKwik. We see immense possibility of the brand to rise as a true leader in the space. This is just a starting point."

MobiKwik recently raised close to $25 million in a Series B round from Tree Line Asia, Cisco Investments, American Express and existing investor, Sequoia Capital. The company plans to raise another $100 million in the second half of 2015.

The MobiKwik Wallet enables users to pay in a flash for their mobile recharge and bill payments, to shop with merchants like Café Coffee Day, PVR, Domino's, Pizza Hut, JustEat, eBay, Jabong, ShopClues, HomeShop18, Naaptol, Pepperfry, Fashionara, FashionAndYou, MakeMyTrip and BookMyShow and to send and receive money from friends.

Have news to share? Write to us atnewsteam@afaqs.com