Never use their wallet. while you transfer the balance from your netbanking to their wallet, the transaction will fail, but the money will be deducted from your bank account and will not reflect in the wallet. Then you will start following up with their laid back helpdesk who never picks up the phone and only respond on emails / online tickets.
After hell lot of follow-ups you are at their mercy where they will may or may not transfer the amount into your wallet or cancel the transaction(money back to your bank).
Pros - Good cash back offers
Cons
Recommendation: Use PayTM or Pay U, they are much better. Avoid using Mobikwik