This tips do not work anymore, I wrote this post in 2017.

Does your bank give reward points in PAYBACK !! If yes, here’s something useful for you.
I’m sure in this period of demonetisation, you will be getting more reward points and you wish to convert it back into money. To know how, read this post.

No need to struggle buying stuff from payback website and waiting for points to increase. With Mobikwik, you can convert the points into eCash.

What is Mobikwik

Mobikwik is a mobile wallet service which you can use to pay for your Recharge, Bill Payments, Online Shopping, Purchases, and Instant Money Transfers.
For those who haven’t heard of it yet, it’s a wallet like Paytm and Freecharge. In last two years it has built reputation in the market. They do come up with good offers on shopping and recharges once in a while.

Links

Website URL : www.mobikwik.com

Download Android App here

play.google.com/store/apps/mobikwik

Download iOS App here

itunes.apple.com/in/app/mobikwik

If you are not able to find any referral, please feel free to use my referral link

Steps to convert payback points into Mobikwik cash

First you need to create an account on Mobikwik. Go to My Wallet > Redeem on website/app.

On this page you will see Payback card option. You can click on ADD CARD and submit you payback details for the payback account on which you have reward points. Submit the OTP and your Mobikwik and provided Payback account will sync.

After this you can click on the redeem button. Let me tell you 4 points value equal to 1 Rupee. So it will show round off value like 3528/4 gives 882 rupees. Now you just have to put your payback pin and done. You will get the final amount in your Mobicash. You may later transfer it to bank for 4% service charges. But I would suggest to use Mobicash to pay for recharge, food and shopping. Almost all online retailers accept Mobikwik and you may get awesome offers at offline stores like central shop too.

Note: When you redeem points , payback charges 25 rupees service charge for each such transaction. So you may wait until you have more than 1200 points because they have set a monthly limit of redeeming upto 300 rs.

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Disclaimer : This post is not sponsored.