PayUPaisa Has Been Rebranded To PayUMoney; Launches Online Wallet Service For Customers
PayU India’s effort to get SMEs onboard its payment gateway services has now taken a new direction. The service earlier known as PayUPaisa has now been rebranded to PayUMoney. While the service remains the same when it comes to sellers, the buyer aspect of the service has been upgraded to include an online wallet service. This adds another player to the online wallet bandwagon which currently has Flipkart’s Payzippy, PayTm Cash, GoIbibo’s GoCash and IRCTC’s e-wallet.
PayUMoney’s online wallet offerings are comparable to the other services in the sector and is focused on the safety of transactions being made by the online shopper in the country. The wallet supports input from Credit cards, Debit Cards and Netbanking. Additional features includes the customer getting rewards on every transaction through the medium of cashback. Depending on the kind and value of the transaction, the service offers upto 10% cashback on transactions made through the service. This cashback will be stored on the wallet and can be used as an effective discount on products that you shop next. As this cashback offer is not time limited, customers can keep getting cashbacks on every single purchase. If you are a heavy online shopper, then you will see good value in using PayUMoney’s wallet.
The company has announced that the service is operational on 8500 ecommerce websites and some example include Groupon, RechargeitNow, Travelyaari, GoIbibo, Redbus and BookMyShow. The service is able to save your cards on its wallet and thus can deliver speedier checkout experiences. Besides this, it also has a Buyer Protection program which allows online shoppers to release their payment to a vendor only on the successful receipt of their purchase. This brings accountability to sellers who offer their products on online marketplaces. Disputed arising from such transactions will be mediated by the PayUMoney team.
The reason behind the rebranding has to do with global expansion of the service. PayUPaisa is a unique Indian name and it would be difficult for the company to introduce this branding in other immediate markets in South East Asia and other continents.
Website | PayUMoney
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Source: http://www.watblog.com/2014/02/07/payupaisa-has-been-rebranded-to-payumoney-launches-online-wallet-service-for-customers/
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