MUMBAI: Zenith, a part of Publicis Media India has won the full range of media duties of payments solutions brands Citrus Pay and LazyPay. Both are a part of fintech company PayU India.
The digital payments industry in India will grow by 10 times to touch $500 billion by 2020 and contribute 15% of gross domestic product (GDP), as per industry estimates. A majority of existing digital payment users already prefer this medium to other cash payment methods, say industry surveys.
Citrus provides payment gateways, one-tap pay, and other innovative solutions. It has over 8000+ merchant partners & 21 million registered users. LazyPay on the other hand is a deferred payment facility. It appears as a payment option on checkout, at websites and apps integrated with the product. Citrus Pay was bought by PayU India last September and LazyPay is a product developed by Citrus.
Tanmay Mohanty, Group CEO, Zenith says, “With mobile becoming ubiquitous, the digital payments business stands at an inflection point. Greater financial literacy and financial inclusion will ensure that the digital payments sector grows visibly. Both Citrus and LazyPay have significant expansion plans and we hope to give them the competitive edge. The payment solutions space is dynamic and super-charged and Zenith will lead the two brands to success and market leadership. We look forward to delivering Spectacular results for The Payu Team.”
Abhijit Bhattacharya, Head Marketing, Consumer Business from PayU India, says, “Zenith understands technology and its strong data-driven approach to media strategy will no doubt deliver for us tangible returns. The agency comes with a unique ROI based proposition, stellar credentials and volume of good solid work. They have a strong foothold in diverse areas such as data, analytics and content. Their inventive spirit, rigorous mind-set and motivated teams will no doubt help create effective communications strategies. We look forward to a long and fruitful partnership.”