Eashmart’s talent has joined the PayUMoney team; they are together working to develop new features. The deal value has not been disclosed
PayUMoney, an online payment solution by PayU India has acquired Eashmart, a mobile-based payment application enabling small and medium businesses to go cashless.
Nitin Gupta, Co-founder and CEO, PayU India said, “At PayUMoney we are focussed 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.”
The entire team of Eashmart has joined the PayUMoney team to develop new features. The deal value has not been disclosed by the company.
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“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.
With the PayUMoney app, transactions can be paid online through the user’s mobile phone. The user has to identify the shop/merchant, enter the amount and pay. In all cases, real-time confirmation is sent to the user, delivery boy and the shop owner. The app doesn’t require merchants to install or buy any hardware. It senses the OTP (one-time password) from the user’s mobile phone without having the user to type password from the text messages.
Along with this app, PayUMoney offers SMS invoice feature to its merchants. The retailer needs to send SMS invoice with a payment link inside and the user can click on the payment link and pay online. PayUMoney has a search URL where users can search for the merchant by name/email/phone number and pay.
The app can also scan QR codes and allows users to save recent favourites. This is backed by telephone and email support and the merchant receives the payment next day in his bank account.
Image Credits: Patryk Kosmider/ Shutterstock
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