Unocoin, a popular Indian bitcoin exchange announced a partnership today with PayUmoney, a digital payment solutions provider in also based in India. The partnership enables Unocoin users to buy bitcoin using the PayUmoney Wallet, giving customers more alternatives than being restricted to NEFT/IMPS/RTGS transfers.
To buy bitcoin with PayUmoney, 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 log into the Unocoin wallet and select the buy with PayUmoney option under the ‘Buy Bitcoin’ tab. Once the payment is confirmed, the user will receive the requested amount of bitcoin in their Unocoin Wallet.
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.”
Sathvik Vishwanath, CEO, Unocoin said:
“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.”
In other news, Unocoin recently launched a mobile app on both 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. Also worth noting, Unocoin has opened up its API to the public to build businesses over its services.