MUMBAI: In order to establish its products PayU Enterprise and PayUmoney as clear independent businesses, PayU India has rebranded its two entities.
In addition to the rebranding exercise, the company will also be spending a sum of $10 million for a big branding campaign over the next few weeks.
As per the recent rebranding initiative, PayU Enterprise will be called PayUbiz with a blue colour logo, while the logo of PayUmoney switches colours from blue to green. The revamped name and logo of the company showcases a fresh look and gives it a solid identity distinguishable from its counterparts.
PayU Enterprise now PayUbiz is a payment gateway solution provider used by more than 70 of the top 100 e-commerce companies including Snapdeal, Jabong, Bookmyshow, Ola, Cleartrip, Redbus, GoIbibo, Zomato etc.
On the other hand, PayUmoney, a consumer business of PayU India, which has a wallet solution for consumers and payment acceptance solution for SMB businesses, has now changed into a green colour logo.
PayUmoney has two propositions: It is a wallet solution for customers and is accepted at over 65,000 merchants including the likes of Bookmyshow, Jabong, Goibibo, Dominos etc and; it is a free and unique online payments solution for anyone who wants to collect payments in India; be it individuals, brick and mortar start-ups, freelancers, schools, hotels, utility companies, residential societies, telcos, insurance companies, traders, retailers etc.
PayU India co-founder and CEO Nitin Gupta said, “There were couple of reasons behind this rebranding. PayUmoney as a consumer brand needed a fresher, contemporary logo which was distinct from other payment marks in the industry. And therefore we went with the green colour, which represents safety, trust. It means “go” and is the default colour of money. On the other hand, our enterprise business is a different and stand-alone business. We don’t want users and merchants to mix it with our consumer brand. We wanted it to have its own unique identity while leveraging the master brand PayU. Therefore, we chose the word PayUbiz or PayU for businesses which has a distinct blue colour logo. For PayUbiz, one of its customers is PayUmoney.”
“Besides the rebranding exercise we’re gearing up for a big branding campaign and plan to spend $10 million in the next few weeks. The objective of this massive campaign is to drive brand awareness about PayUmoney and educate the consumers about its key benefits,” he added.