Mobikwik, in partnership with American Express, launched the Mobikwik Blue American Express card for select customers in mid‑August 2020 and expanded availability to many more users by late November 2020.
Technically a prepaid card, the Mobikwik Blue functions much like a debit card linked to your Mobikwik Wallet balance. This approach brings a useful alternative for wallet users who want card-based payments without a traditional credit line.
Table of Contents
- Application Process
- Benefits
- Mobikwik‑Amex History
- Bottomline
Application Process
Initially issued to a limited group at launch, the card became available to all customers who completed KYC verification with Mobikwik by late November. A virtual card is generated instantly within the app; according to the terms and conditions there are no current plans to issue a physical card.
Benefits
- Every transaction allows you to redeem 3% of the transaction value using SuperCash.
- Each transaction also earns 1% SuperCash credited back to your wallet.
- Access to merchant offers tied to the Mobikwik/Amex network.
Redemption of SuperCash is capped at Rs.1,000 per month. Additionally, Mobikwik may extend a credit facility (for example, a Rs.10,000 limit) through its Zip buy‑now‑pay‑later product after you demonstrate sufficient spend on the card.
Cons:
- To redeem the 3% SuperCash benefit you must apply the relevant offer inside the app’s Rewards section for each transaction.
- The SuperCash system can be confusing for some users, despite improvements since its initial rollout.
- Merchant offers available for this card are currently limited compared with larger networks.
Mobikwik‑Amex History
American Express first invested in Mobikwik in April 2015. Mobikwik once attracted customers with straightforward cashbacks on wallet top‑ups and recharges, but later shifted to the SuperCash model, which many users found complicated. That transition hindered its growth at a time when rivals like Paytm, PhonePe and Google Pay were expanding rapidly.
Given Amex’s stake, a closer integration between the two companies was expected earlier. The current card is a welcome development, though in its present form it may not significantly sway premium customers.
Bottomline
Mobikwik’s market position weakened as other players captured the digital payments boom, prompting the company to explore new products. With Amex’s support, the Mobikwik Blue card represents a first‑of‑its‑kind effort to tie SuperCash redemption directly to card transactions. For regular Mobikwik users who frequently receive SuperCash, this card can simplify redemption by enabling an effective 3% discount at checkout when the SuperCash benefit is applied.
Following temporary moves by competitors to introduce wallet fees, the Mobikwik Blue card, backed by the Amex network, can serve as an alternative for users seeking a card‑based route to spend wallet balances. However, acceptance remains lower than larger wallet ecosystems such as Paytm or Amazon Pay, which limits its utility for some transactions.
- Update: Paytm later withdrew a temporary 2% wallet fee, reversing that specific competitive pressure.
Overall, the Mobikwik Blue Amex card is a modestly useful product for existing Mobikwik users who take advantage of SuperCash offers. It’s not a market‑leading payment product, but it fills a niche for wallet users who want an instantly issued virtual card and easier SuperCash redemption.
Do you use the Mobikwik Blue Amex card? Share your experience in the comments below.