FreePaisa, PayUmoney join hands to facilitate transfer of rewards

Indian mobile wallet is witnessing partnerships to rapidly reach to the customers. TechSci Research, a consulting and market research firm published the report, “India Mobile Wallet Market Forecast and Opportunities, 2020” which depicts that as mobile wallet market in India is surging on account of growing online transactions, rising trend towards mobile banking, and ease of usage of mobile wallet applications. In 2014-15, major application areas that drove the country’s mobile wallet market included money transfer, mobile recharge and bill payments, utility applications.

The report also projects that the mobile wallet market in India is forecast to reach US$ 6.6 billion by 2020.

FreePaisa, a well know incentivized platform which provides users reward for installing new android apps and referral, joined hands with PayUmoney to provide an extra attribute to users to transfer their reward earnings to PayUmoney account.

PayUmoney is a payment gateway solution to online business, operating via website and mobile app. The company facilitates merchants and customers to transact money online via credit or debit cards, net banking, digital wallets and checkout technology. The company has partnership with more than 100 thousand ecommerce sites such as Bookmyshow, Makemytrip, Myntra to name few.

FreePaisa users can now transfer their rewards to PayUmoney account/wallet and utilize this money for to shop from different PayUmoney partnered merchants.

FreePaisa launched its new application version to increase the options to earn rewards and introduced contests, games and so on. The user can invest its earning by playing more games or can credit the same in the mobile wallet.

As per TechSci Research analysis, the partnership between the two firms would benefit the customers to utilize their reward earnings in multiple ways. As well, the two companies’ synergies expected to enhance the mobile user experience and use of mobile app & associated wallets.