Mobikwik has announced partial payment for ticket reservation and cash pick up for bus tickets booking. With this launch, MobiKwik targets doing 25000 daily bus bookings by December 2016.
We are currently doing 4000 daily bus bookings and have already seen the service grow hundred percent in the past one month. This tremendous growth has encouraged us to look at bus booking as a separate revenue stream. With this focus, we have launched partial payment booking and cash pick up for bus tickets. – Upasana Taku, Mobikwik cofounder.
The overall bus booking segment is valued at Rs. 20,000 crores in India and online transactions contribute nearly 15 percent to this segment. The segment is growing and much of it is attributed to the booking through mobile apps. The private bus travel market is estimated at Rs. 17,000 crore and is expected to grow by 40% by 2018. The state-run bus travel market is estimated at Rs 44,000 crore and is expected to grow by 20% by 2018.