Mobikwik CEO Hits at capital dumping by Chinese in PayTM; Questions Data Security?

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swatkats

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Even as demonetisation is throwing up opportunities for e-wallets and the competition in the sector is stiffening, Mobikwik founder and Chief Executive Officer Bipin Preet Singh on Tuesday said Paytm, the largest player in the sector, has been “dumping capital” to gain customers.

“We must be sensitive to companies, especially those that have massive foreign investments,” said Singh. “They can come into the country, dump capital and gain access to data.”

His barbs were aimed at sector leader Paytm in which global e-commerce major Alibaba has a stake — about 40 per cent according to some sources.


Singh also criticised Paytm for providing large discounts to users to gain market share.

“You do not need back-to-back print advertisements during demonetisation to gain customers. They give 50 per cent cashback on flight tickets and movies — where is the innovation in that? I think that’s where they have under-performed,” he said.


 
Earlier Ola cabs CEO raised the same concern of "capital dumping" against UBER. What is funny is that these guys forget they also got money from the same "money dumpers". Mobikwiks investors include - Sequoia, I am not to judge them for what they do but have been dumping...um investing left and right in India. Tree Line Asia and Mediatek, while not bad as the Chinese but Singaporean and Taiwan based chip manufacturer respectively and Net1, a rather recent entry.

That said, Paytm has been sucking up to the PM with their full page ads which border, no scratch that, is sycophant. But they have gained a lot after demonetization. Every one I know my paper waala, doodhwala, water waala everyone accepts Paytm but ask them Mobikwik and Freecharge (which btw have more offers IMO) and they are blank. And saying it is because of the dumped money is wrong - for one, the paper ads, second, the have been sponsoring cricket series for sometime now, ads on TV pushing the app. Mind you they do have heavy offers on movie tickets and flight booking. Sure tickets might entice common man but flight bookings? Seriously?

Where they have under-perfomed is trying to be a payment bank along with shopping platform using third party seller.
 
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swatkats said:
Even as demonetisation is throwing up opportunities for e-wallets and the competition in the sector is stiffening, Mobikwik founder and Chief Executive Officer Bipin Preet Singh on Tuesday said Paytm, the largest player in the sector, has been “dumping capital” to gain customers.

“We must be sensitive to companies, especially those that have massive foreign investments,” said Singh. “They can come into the country, dump capital and gain access to data.”

His barbs were aimed at sector leader Paytm in which global e-commerce major Alibaba has a stake — about 40 per cent according to some sources.


Singh also criticised Paytm for providing large discounts to users to gain market share.

“You do not need back-to-back print advertisements during demonetisation to gain customers. They give 50 per cent cashback on flight tickets and movies — where is the innovation in that? I think that’s where they have under-performed,” he said.
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Someone needs to tell this idiot that he should first improve his services and then comment about others. Forget paytm, even freecharge is way better than mobid*ck

As for discounts, that's just a ploy to get more eyeballs and customers. It will never be successful in the long term.
 
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^^That is like saying you should be a chef to criticize anyone's food. His point has nothing to do with his services.
 
cellar_door said:
^^That is like saying you should be a chef to criticize anyone's food. His point has nothing to do with his services.
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Yeah that is true but this is the case of a pot calling the kettle black.Typical Indian badmouthing tendency where you bad mouth your classmate/neighbor/co worker when they are beating you at your own game.
 
The only place I see mobikwik being used extensively is with Uber when your card does not allow auto debit (not Paytm wallet) and the bill is charged next time your try to transact.
 
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