2017- This Rakhi, SoftBank backed, Paytm launched a digital version of shagun
to enable customers to go cashless during special occasions. Customers could
share cash instantly with each other across the country using this feature.
Paytm registered a strong surge in transactions for its Rakhi theme. Three
weeks on, the service continues to be widely popular, having registered half a
million transactions. Users can also send cash to each other using various
other themes wherein Thank You, Lucky You and Best Wishes have emerged as the
more popular ones. The company is now branding its gifting solution as Paytm
Lifafa in order to bring more mass appeal.
President- Paytm said, “Paytm Lifafa offering has gained a lot of traction
within a short period of time. We are rebranding it to ‘Lifafa’, a native word
that holds a strong emotional connect and social relevance across generations.
This will help in further establishing our payments offering as the go-to
platform to send money instantly.”
support a rapid and permanent shift in consumer behavior in favor of digital
payments. The company is looking to replace cash by enabling more consumers to
experience the power of convenient digital payments on its platform.