News Roundup featuring PayUMoney, Paytm and more

After rebranding itself, PayUMoney made its foray into wallet services

PayUMoney, after rebranding itself from PayUPaisa to PayUMoney, has recently made its entry into the wallet services. Apart from usual payment services, the company is also offering a 2 to 10% instant cashback on every transaction in order to differentiate from other mobile wallet services in the market. This cashback can be used as a discount on the very next purchase.

The service is accepted on more than 8,500 e-commerce websites such as Goibibo, Bookmyshow, Redbus, Tradus, Rechargeitnow, Ferns n Petals, Groupon, Travelyaari etc.

“PayUMoney Wallet addresses the needs of consumers for better payment solutions which are convenience, wide acceptance and rewards. The intent is to allow users to pay through usual payment options like credit cards, debit cards or netbanking and reward them with instant cashbacks”, said Nitin Gupta, Co-founder & CEO, PayU India

PayU India, a Naspers Group company, was launched in October 2011. It serves more than 8500 businesses in India. Its clientele includes leading companies across various industries like Goibibo, Bookmyshow, Snapdeal, RedBus, Micromax Mobile, HUDA water board, Amity University, Religare Insurance and many more..

Paytm launches a shopping app with Bargain

Paytm has recently introduced a mobile only marketplace integrated with its recently acquired mobile text messenger, Plustxt and its cash wallet for payments. The app has been marketed as a shopping app with a unique feature of ‘bargain’ added to it with an aim to provide real “over the counter” human shopping experience .

The app includes more than 100,000 items from 250 merchants in Men, Women, Kids fashion and Home Furnishing Categories along with Mobile & DTH recharge options (which were already available on Paytm).

Paytm Cash Wallet is a mobile prepaid payment option by which you can add cash from your bank / credit card and shop much faster on the mobile phone. Users can get cash back or refund from a merchant in Paytm Cash Wallet and use it across every item sold in the marketplace. This feature has been incorporated after a RBI license granted to Paytm.

“We have thought of mobile shopping from bottom up, without any previous assumptions of consumer behavior. Bargain is ingrained in nearly every Indian and is part of our everyday shopping. We are making something that will appeal to every Indian user in a natural way” said Vijay Shekhar Sharma, Founder & CEO of Paytm.

The app is available at both the Apple iTunes App Store and the Google Play store. Currently, there are 6 Mn Paytm mobile app users.

Indian Union Ministry integrates payment gateway to its eBiz portal

The Indian government has recently launched the second phase of eBiz project along with an integrated payment gateway. This aims at providing a universal gateway for all e-Governance applications.The eBiz portal, comprising information on forms and procedures, was earlier launched by the Union Minister of Commerce & Industry Shri Anand Sharma in 2013.

The project aims at transforming the business environment in the country by providing efficient, convenient and transparent electronic services to investors, industries and businesses.  The service is provided in the areas of information on forms & procedures, licenses, permits, registrations, approvals,etc. throughout the life-cycle of an industry or business entity.

The second phase also included the launch of two DIPP services, viz., Industrial Licenses and Industrial Entrepreneur’s Memorandum (IEM).

“ eBiz marks the highest level of maturity in web-based e-Governance applications as it strives to achieve horizontal integration across various verticals of Central government, State governments and Para-statal agencies. The integrated payment gateway, which is also the first of its kind in the country, essentially solves the problem of debiting from multiple sources and crediting to multiple sources in a completely automated manner based on a set of external messages”, said Shri Sharma.

The eBiz platform is now in public domain and will allow the addition of more and more services across Central Government, State Government and Parastatal bodies.

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