MobiKwik aims big

Digital payments firm MobiKwik has set a target of clocking a gross transaction value of Rs 10,000 crore in funds transfer and having over 20 million users in 2019-20.

The company said in a statement on Monday that it had seen a 400 per cent growth in its funds transfer business last year with a gross transaction value of Rs 4,344 crore.

IMPS (immediate payment service) is an instant interbank electronic funds transfer system. Through IMPS, a user can also transfer funds from the digital wallet to the bank account.