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.
