Niki.ai Is Breaking Even On All Payments On Its Platform

Niki.ai Is Breaking Even On All Payments On Its Platform

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Niki.ai, the homegrown chatbot firm, claimed that it is breaking even on every order paid on its website. Supported by Ronnie Screwvala, Ratan Tata, and SAP, Niki.ai allows consumers to book buses, cabs, and hotels, as well as to pay perform bill payments on a voice or a chat interface. CEO at Niki.ai, Sachin Jaiswal, claimed that the firm had seen a rise in income in 2018 following the roll out of the voice command function.

“The firm has turned money-making for all payments beginning October this year and has clocked a 200 Crore GMV (gross merchandise revenue) annualized at present run rate in 2018,” he claimed. Jaiswal claimed that the firm was looking at attaining an annualized 1,800 Crore GMV run rate by the end of next financial year.

“We are operating on eliminating all interfaces for the masses, keeping all the things akin to the offline world, where every product and service is attained via the medium that consumers are most familiar with—chats,” claimed Jaiswal.

On a related note, SoftBank and Alibaba-supported Paytm earlier claimed that it witnessed 600% development in the UPI (Unified Payments Interface) payments in the past 6 Months. One97 Communications Limited, that controls the Paytm brand in India, claimed that the platform clocked more than 179 Million UPI payments in October 2018.

“It is heartening to see the extensive acceptance of Paytm BHIM UPI for different services such as electricity bills, mobile recharges, metro commute, water bills, and also at the offline shops,” claimed Senior Vice President at Paytm, Deepak Abbot, to the media in an interview.

In September 2018, Paytm had clicked more than 137 Million UPI payments, turning out to be top contributor to UPI (Unified Payments Interface) payments with more than 33% of the entire market share.