PayUMoney, an online payment solution by PayU India has acquired Eashmart, a mobile based payment application. With this acquisition, PayUMoney is furthering towards its goal to replace cash payments with online payments.
Eashmart was founded by Amit Kumar and he along with his team has joined PayUMoney where they will continue to help with the development of new app features.
Nitin Gupta, Co-founder and CEO, PayU India said, “At PayUMoney we are focused on accelerating growth and innovation in payment space. As fewer users carry cash and rely on card payments, the trend will increase and more physically present cash payments will start getting substituted by online payments. That’s why we are investing in best mobile based payment application to create the innovative mobile payment solution which makes online payment easy and ubiquitous.”
“PayUMoney is synonymous with the best payment solutions and is the ideal partner for us, strengthening our ability to make cashless transactions anywhere and anytime,” said Amit Kumar, Founder, Eashmart.
Bigbasket.com is piloting with this to offer an alternative to cash on delivery to its customers at time of grocery deliveries. Similarly, Yo! China’s Gurgaon outlets are using this product to offer an alternative to cash payments to the customer at time of home deliveries.
Along with this App, PayUMoney has also offered a SMS invoice feature to its merchants to send a SMS invoice with a payment link inside. The user can click on the payment link and pay online.