Citrus Pay partners with Visa and RuPay to improve payments business
Bengaluru, India | Red Newswire | Dec 7, 2015 Last Updated at 07:44 PM IST.
The Mumbai – based e-wallet startup Citrus Pay got Rs. 167 crore funding last month and is now tying up with Visa and RuPay to boost its payments business.
The company had applied for payments bank license but couldn’t get it. It had now decided to tie-up with the Indian card scheme RuPay to expand in this space. Jitendra Gupta, MD of Citrus Pay said, “”We are planning to increase our present 10 million wallet user base by 2 million over the next 60-90 days by facilitating acceptance of RuPay cards.”
Currently the company has fewer users from small towns and cities and will have to expand its footprint in these areas to begin its second stage of growth. It decided to tie-up with RuPay and Visa because they have many customers from those areas.
Gupta said, “”In order to introduce RuPay card users to our platform, we are offering an incentive of 10 per cent cashback on the first recharge into our wallet. This would be beneficial for our merchant partners as well.”
Source: ET Bureau