Paytm rebrands its ‘Postcard’ service to ‘Lifafa’

Digital payments and ecommerce company Paytm, during the celebration of Raksha bandhan, introduced a new service called ‘Postcard’ which allowed customers to go cashless on special occasions.
  • The ‘Postcard’ which is a digital version of ‘Shagun’ allow customers to share cash instantly with each other across the country.
  • The company says that its service registered a strong increase in transactions for its rakhi theme.
  • Other popular themes that the customers opted for were ‘Thank You’, ‘Lucky You’ and ‘Best Wishes’.
  • However the company now rebranded its service ‘Postcard’ to ‘Lifafa’ (which means envelop in Hindi) after India Post sent a legal notice to the company to stop using the term ‘Postcard’.
  • The noticed referred to the IPO Act and established rules and regulations and stated that the usage of the word ‘Postcard’ was the sole right of India Post.
  • The rebranding exercise is only limited to the name while the core product remains the same.
  • In our country the word ‘Lifafa’ will connect with the customers at an emotional level and thus help in establishing it as a go-to platform to exchange greetings and gift money.
  • Paytm will also be coming up with more promotional activities to make people aware about their new gifting solution.
Paytm is in support for a rapid shift in consumer behaviour towards digital payments. The new gifting solution ‘Paytm Lifafa’ is thus likely to attract more number of customers in the near future.
Source: http://bit.ly/2wWmnOQhttp://bit.ly/2vx69bu

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