Net1 is a South African payment systems company. With this deal, MobiKwik will be integrating Net1’s virtual card technology across all its wallets and extend its wallet services to all merchants. The company said that it will be using the funding to scale up in India and grow to a user base above 150 million and sign on 500,000 merchants.

Net1 invests $40 mn in mobile wallet MobiKiwk

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