Unocoin associates with PayUmoney

NEW DELHI: Bangalore-based Unocoin has announced its association with PayUmoney. The partnership enables Unocoin users to buy Bitcoin using PayUmoney Wallet, hence giving them more alternatives than restricting to NEFT/IMPS/RTGS transfers.

“The partnership with PayU is coming at a time when we are seeing a huge increase in the number of wallet users in India. The ease with which payments can be made via wallets like PayU is certainly going to benefit the Bitcoin buyers and increase accessibility to Bitcoin markets. This is our Christmas gift to Unocoin users.” says Sathvik Vishwanath, CEO, Unocoin.

To buy Bitcoin with PayU money, Unocoin users will have to create a registered PayU wallet. Both the Unocoin wallet and PayU wallet must be registered under the same mobile number. The user needs to load his PayU wallet using debit/credit card/ internet banking and then can log into the Unocoin wallet and select the buy with PayU money option under the ‘Buy Bitcoin’ tab. Once the payment is confirmed, the user will receive the requested amount of Bitcoin in their Unocoin Wallet.

Elucidating upon the partnership, Rahul Kothari, Head, PayUBiz added, “We are glad to associate with Unocoin and embark upon a journey towards mainstreaming Bitcoin adoption and utility in India. Given the current digital payments drive, following the demonetization of currency notes, we are optimistic about the future Bitcoin. I am affirmative that our users will appreciate the complete assortment of valuable services now available at PayUmoney, and will show agility in adopting Bitcoin by Unocoin.”

Unocoin had recently launched its mobile app on iOS and Android, becoming the first company in India to offer a full featured mobile bitcoin app. The app offers 24/7 access to real-time bitcoin market prices and instantaneous trading transactions. In another development, Unocoin had previously opened up its API for public to build businesses over its services.