Online payment solution provider PayU India acquired mobile payment provider app Eashmart for an undisclosed amount, Nitin Gupta, CEO of PayU India, confirmed to Tech in Asia, adding that it will boost the company’s payment solution for small merchants – PayUMoney.
Delhi-based startup Cobboc built Eashmart to help users to pay for products using their mobile phones without having to pay surcharges or save card details. Following the acquisition, Eashmart’s Android-only app has been renamed as a PayUMoney app. Its five-member team will continue working through the transition period. The Eashmart website now redirects to the PayUMoney website.
Eashmart’s existing clients across Delhi, Bangalore, and few other cities will now migrate to PayUMoney. They will get the added advantage of PayUMoney’s merchant dashboard interface.
Like Eashmart, PayUMoney allows also users to pay merchants without swiping their credit or debit cards. “In total, we have over 40,000 merchants growing at a rate of roughly 5,000 new merchants per month,” Gupta said.
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