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PayUMoney, PayU India’s online payment solution brand, has entered into an alliance with 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 – ‘PayUMoney Wallet issued by RBL Bank’ - will be available only to PayUMoney consumers in India.
“This semi-closed wallet will add to the ease and convenience of consumers while paying through PayUMoney,” said Shailaz Nag, Chief Operating Officer of PayU Payments.
Users can load this wallet to a maximum of Rs 10,000 and use it at more than 62,000 merchants where PayUMoney is accepted as a payment option.
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