Mobile Wallets and Their Social Media Scenario

 Mobile Wallets and Their Social Media Scenario

Tired of remembering your 16 digit card number? Wondering what would you do if you forgot your card at home? The mobile wallets have a solution for you! Now paying money has become a lot easier, actually just a few clicks away! No more handling/transaction charges, no more long unending pin codes. Wait! Doesn’t this sound more like an endorsement? But you know what, it’s true, mobile wallet technology has made lives a lot easier.
Mobile Wallet
What is a Mobile Wallet?
A mobile wallet is digital equivalents of your actual wallet, a way which can help you get rid of confusing cash handling moments, keep you away from the fear of losing your debit/credit cards anywhere and anytime.  It is an online safe where you can store your money just like it is done in a bank.
How does it Work?
One needs to register online with any mobile wallet provider, following which you can add money to your account using a debit card, credit card, online transfer and even via cash deposits through a recharge kiosk.  This allows you to pay using your mobile wallet at places which are registered with the platform. Examples of few of the mobile wallet providers in India are MobiKwik, Paytm, PayUMoney and Freecharge.
Benefits:

  1. No more transaction charges on every online payment.
  2. Once your card details have been saved, you can skip the problems of entering your card number, pin numbers and more numbers!
  3. It also allows you to get rid of entering your details every time you need to make a payment, all one needs to do is sign in to your account and pay!

Now, something that deals with a lot of your money is sure to generate a few (read lots) complaints, especially regarding refunds, offer avails, unwarranted deductions and more. Do you know where people prefer to go nowadays, to complain about these? You are actually right; it’s our very own SOCIAL MEDIA.
The logic behind this is pretty simple. The customers know that a brand does not prefer to be publicly humiliated, just like any normal human being. They also know that on social media they would garner a lot of support from people who are facing a similar problem, which is directly proportional to the brand taking notice of your problems.
To understand the needs, benefits and ways of providing customer support via social media read: http://bit.ly/1dNZWOn
However, how many of these mobile wallet providers are actually active on social media and are responding to their customers? We have the answer.
Facebook:

  1. Number of likes:

             Freecharge: 1 Million
             Paytm: 895 K
             PayUMoney: 107 K

  1. Freecharge and Paytm are highly active on their facebook profiles. They post images with puns, offers, festival wishes and more.  PayUMoney, although has a profile and maintains it pretty well, does not draw as much interaction as the former. MobiKwik on the other hand does not have a Facebook profile, instead just a page dedicated to it.
  2. Freecharge, Paytm and PayUMoney, all of them receive a high amount of complaints through their comments section.
  3. Freecharge and Paytm allows people to post directly on their wall, however the same is not true with PayUMoney. This does not make life easy for them, because the complaints still keep pouring in the form of comments to posts.
  4. The response time to these comments in the case of Freecharge and Paytm is comparable and sticks to an average of half an hour. PayU Money in this case is lagging behind with non timely replies or for that matter, even no replies to the comments.
  5. All the brands adopt a friendly tone in their replies to connect at a more personal level.

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TWITTER

  1. Number of Followers:

             Freecharge: 22.6 K
             Paytm: 49.6 K
             PayUMoney: 21.2 K
             MobiKwik: 49.5 K
 

  1. While MobiKwik does not have a dedicated Facebook page, it has a high following on twitter following Paytm and not winning the race by a very small margin. Freecharge and PayUMoney are not very popular on Twitter.
  2. Paytm makes an average of 2 creative posts per day. They are also pretty quick in answering to complaints and maintain a reputation of answering within the same hour on an average.
  3. Freecharge on the other hand is not as active on Twitter as they are on Facebook, in terms of posting creative content. However, when it comes to providing customer support they are at par with Paytm and make sure to reply within the same hour as well.
  4. MobiKwik posts anything between 3 to 10 tweets posts per day which is a combination of both creative as well as general offer related. They do not receive many complaints even on their twitter handle.
  5. PayUMoney posts 2 to 3 posts on an average every day, which is a combination of both creative as well as offer related ones. Their response time to complaints and queries is also very quick.
  6. Paytm also has a separate handle, dedicated specifically to Customer support, which makes replying to complaints much easier. The response time is also a quick 2 to 3 minutes.

twitter

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