MobiKwik Relaunches Zaakpay as 'MobiKwik Payment Gateway'

Indian mobile wallet major MobiKwik on Wednesday said it has relaunched its payment gateway Zaakpay as "MobiKwik Payment Gateway".

According to the company, the new-age payment gateway has been introduced with proprietary features to ensure security of transactions.

MobiKwik Payment Gateway is a highly secure platform that works with different levels of security - encryption of all transactions, sensitive data storage with multiple levels of encryption, and API-level security.

With a strong focus on system security, the company said, the new payment gateway has 24X7 physically monitored data centre with restricted and logged access, system level firewalls, and hardware level encryption.

"MobiKwik's revamped payment gateway deploys strict measures that are on par with the measures adopted by the best banks," Bipin Preet Singh, Chief Executive Officer of MobiKwik, said in a statement.

The statement said MobiKwik Payment Gateway has already done transactions totalling $1.8 billion (roughly Rs. 11,719 crores) this year.

The company aims to have over transactions totalling $5 billion (roughly Rs. 32,557 crores) on the platform by end of FY2018, it added.