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PayUMoney increases number of merchants to over 1 lakh

  • Online payments
    solution company PayUMoney has increased the number of its merchant customers
    to more than 1 lakh, boosting its transaction rate five times in the process to
    bring it to 1.5 lakh a day, the
    Economic
    Times
    reported.
  •  
  • The Gurgaon-based
    • Online payments
      solution company PayUMoney has increased the number of its merchant customers
      to more than 1 lakh, boosting its transaction rate five times in the process to
      bring it to 1.5 lakh a day, the
      Economic
      Times
      reported.
    •  
    • The Gurgaon-based
      company, which is adding another 8,000 transacting merchants this month, has
      also seen its wallet customers increase to 7.5 million.
    •  
    • “This is in line
      with our two-fold strategy to increase our merchant customer base and increase
      our wallet customers. We are also aiming to cross-sell our merchants to our
      wallet customers, so they can use the Pay U wallet across multiple merchants,”
      said Nitin Gupta, CEO and cofounder of PayUMoney.
    •  
    • Gupta said the
      company is looking to increase its merchant customer base to 5 lakh by October
      2016. By then, the company also expects to see its wallet customers grow
      fourfold to about 30 million, he said.
    •  
    • “We are aiming
      to increase the wallet experience for our customers as well as increase our
      role as a payment aggregator,” Gupta added.
    •  
    • The company plans to
      enter into major tie-ups in the transport sector by next month, the
      ET report said.

     

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