The leading online payments solution company PayUPaisa, which was launched in October 2011, has changed its name to PayUMoney. The company has taken this step to position PayUMoney as a global brand and reach out to international audience. However this rebranding activity doesn’t affect any existing merchant or consumer. All the transactions and account details continue to remain same as before.
“In order to create a global brand appeal for our flagship product, it was wise decision to change PayUPaisa to another brand name. While deciding the new brand nomenclature two components were integral. (A) Retaining the core brand name PayU (B) Having a strong connotation with transactions or currency. The word ‘PayUMoney’ fitted the bill as it carries the PayU brand legacy and has a global appeal, since the word ‘Money’ is not restricted to any geography. This is the right time for us to engage in rebranding activities and invest in making PayUMoney globally ready,” said Varun Jha, Marketing Head, PayU India.
PayUMoney was launched last year with the objective of enabling sellers to sell online and to build buyer’s trust with online payments. In a short span, PayUMoney received substantial acknowledgement from both buyers and sellers across the country. It offers a gamut of free tools like a free payment gateway, free webstore, email invoicing and event ticketing platform etc to easily collect payments online. Some of the recently launched offerings by PayUMoney include “Release on Delivery” and “payment settlement solution for marketplaces”.