One97 Communications’, Digital mobile wallet Paytm has rebranded one of it’s services earlier called Paytm Postcards, a digital option to gift money to someone on festive occasions, to ‘Lifafa‘, after having received a notice from India Post asking them to stop using the term ‘postcard’.
According to Department of Posts, India Post has the sole right to use the word ‘postcard’ under the IPO Act rules and regulations. During the festival of Raksha Bandhan, Paytm had launched Paytm Postcards — a digital version of gifting money during special occasions.
Commenting on this re-branding, Deepak Abbot, senior vice president, Paytm said, “Paytm Lifafa offering has gained a lot of traction within a short period of time. We are rebranding it to ‘Lifafa’, a native word that holds a strong emotional connect and social relevance across generations. This will help in further establishing our payments offering as the go-to platform to send money instantly.”
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It was also reported that Paytm plans to launch its own messaging service as a rival to Facebook’s WhatsApp. SoftBank and Alibaba-backed Paytm is seeking to attract people in India to use the new messaging service embedded in its app.
After flipkart, Paytm is the most valued startup in India,with a worth of about $1.5 billion.
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