Sat, Dec 3, 2016 | updated 03:07 PM IST

Mobikwik launches partial payment for bus tickets booking

Updated: Aug 22, 2016 15:53 IST

New Delhi, Aug 22 (ANI): The new entrant in the bus booking industry MobiKwik today announced its industry first initiatives to capture the lead position in the industry by end of 2016.

The company has announced partial payment for ticket reservation and cash pick up for bus tickets booking, further simplifying the user's journey.

However, MobiKwik targets to book over 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. Today, we have the most lucrative offering in the bus booking industry that will help us claim a significant market share by the end of this year," said Co-founder MobiKwik, Upasana Taku.

The overall bus booking segment is valued at Rs. 20,000 crore 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 percent by 2018. The state-run bus travel market is estimated at Rs. 44,000 crore and is expected to grow by 20 percent by 2018.

MobiKwik's bus booking service is available pan-India and is available on MobiKwik app and website. (ANI)