- Paytm recorded good business after introducing Postcard
- Money can be transferred with a Postcard
- Lifafa means 'Envelope' in Hindi
Digital payments and e-commerce company Paytm introduced a new service called Postcard to its app allowing users to send money to their contacts along with a customised postcard, earlier this month. The company has now decided to rename the Postcard service to ‘Lifafa’, with an attempt to bring mass appeal to the product.
The Alibaba-backed Paytm launched Postcards about three weeks ago on the occasion of Raksha Bandhan. The company claims to have recorded around half a million transactions since launch of Postcard service.
The service is akin to the digital red packets by Alibaba and its rival Tencent, which is based on Chinese tradition where they gift money in red envelopes during Chinese Lunar New Year.
Notably, Paytm introduced Postcard service three weeks back and in order to send the postcard, users will need to open the Paytm app and then tap on Postcard option on the home screen. Then, users need to then choose the ‘Send a Postcard’ option and enter a mobile number or select one from contact list option.
Users then need to enter the amount they want to send and attach a personalised text message of their choice. Lastly, the design of the postcard can be selected from provided choices and send. Paytm will refund the entire amount if it is not accepted by the contact on the receiving end within 10 days.
The payment service app also plans to launch promotional activities in order to spread more awareness on the usage of ita gifting product ‘Lifafa’. The company is also planning to launch more updates for the upcoming festive season.
By naming Postcard service to Lifafa, the company plans to connect emotionally to the people of India eyeing the upcoming festive season. For those who don’t know, Lifafa is Hindi word for envelope, which is used to give away money to people as ‘Shagun’ during festivities.