An Indian electronic payment brand Paytm is rebranding its postcard service, its digital version of giving money in an envelope on festive occasions. The firm took the decision as it received a notice from India post to not use the term postcard.
About the Notice
The notice referred to the IPO Act and the built up tenets and directions, saying the use of “postcard” is the sole right of India Post.
Alibaba-backed Paytm started its postcard service three weeks ago on Raksha Bandhan and claims to have recorded half a million transactions since then.
Rebranding to ‘Paytm Lifafa’
“The rebranding exercise is limited to the name, while the core product remains the same,”. “The word ‘Lifafa’ has a strong emotional connect in our country and rebranding our service to ‘Paytm Lifafa’ will help in further establishing it as the go-to platform to exchange greetings and gift money,” said Deepak Abbot, senior vice-president at Paytm.
Paytm’s Promotional Activities
Paytm plans to launch promotional activities to spread more awareness on the usage of its gifting product Lifafa. The firm is also gearing up to launch more products updates for the upcoming festive season.