Mobile Wallet Companies to Hire Graduates from IITs, IIMs

Sarika Rana updated on : 02 Dec 2016

With effect to demonetization in the country and increased popularity of e-wallets, mobile-wallet companies are set to hire a bulk of fresh graduates to expand their businesses. Read on!

Mobile Wallet Companies to Hire Graduates from IIT

Demonetization of INR 500 and INR 1000 notes has led many e-wallet companies to expand their business operations due to a surge in cashless transactions. Companies like Paytm, MobiKwik are on a hiring spree since the announcement of demonetization in the country.

Since demonetization, Paytm has added around five million new users and registered over seven million transactions worth INR 120 crore in a day. To look after its expanding business, Paytm plans to hire around 100 fresh graduates from top institutes like IITs and IIMs. Similarly, MobiKwik has also seen an increase of about 40 percent in daily app downloads in its 40 million-user base, looks at hiring about 200 people, and strengthen its sales, marketing and business development departments.

Last year, apart from IITs and IIMs, Paytm has hired graduates from BITS Pilani, Indian institute of Information Technology, FMS Delhi, MDI Gurgaon, Indian School of Business, SP Jain Institute of Management and Research, National Institutes of Technology and others.

MobiKwik plans to hire graduates from IITs and IIMs at an average salary package of INR 15 lakh per annum. It is set to expand its team from over 210 to approximately 400 with an investment of 10 million dollars.

As compared to the recruiters last year, this year IITs have seen a different set of recruiters in academic institutes, mobile-wallet companies and big giants like Microsoft, Oracle and Visa.


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