RBL Bank, PayUMoney partner to launch customers-directed co-branded virtual wallet

Friday 23 January 2015 13:20 CET | News

PayUMoney, an online payment solutions provider, has partnered Ratnakar Bank (RBL Bank) to launch a semi-closed co-branded virtual wallet.

The wallet will be issued by RBL Bank and distributed and marketed by PayUMoney. The wallet, titled PayUMoney Wallet issued by RBL Bank will be available to PayUMoney consumers in India.

A customer can choose to pay through PayUMoney on an ecommerce website and create a wallet account while paying on the website. Once the account is created, the user can continue paying through usual payment modes like credit card, debit card and net-banking. The user can also use it with more than 62,000 merchants where PayUMoney is accepted as a payment option.

Transactions made through PayUMoney are, by default, protected by PayUMoneys buyer protection policy which means that, either the buyer will get his promised goods and services or PayUMoney will refund the money back into users wallet account in case of mismatch in expectations. Users will get PayUMoney reward points every time they use PayUMoney to pay online.

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Keywords: RBL Bank, Ratnakar, PayUMoney, payments processor, partnership, launch, digital wallet, customer, India
Categories: Payments & Commerce
Countries: World
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Payments & Commerce

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