Unocoin partners with PayUmoney to offer buying alternatives


Bitcoin company Unocoin has partnered with payment solutions provider PayUmoney to enable Unocoin users to buy bitcoin using PayUmoney wallet, offering more alternatives to NEFT/IMPS/RTGS transfers.

“This partnership with PayU is coming at a time when we are seeing huge increase in the number of wallet users in India,” said Sathvik Vishwanath, chief executive of Unocoin. “The ease with which payments can be made via wallets is certainly going to benefit the bitcoin buyers.”

Unocoin users can now purchase bitcoin by loading their PayU wallet using debit card, credit card or internet banking and select the PayU money option available under the Buy Bitcoin tab. Once the payment is confirmed, user will receive the requested amount of bitcoin in their Unocoin wallet. “Now users can purchase Bitcoin on non-working days, weekends, at night instead of waiting for the next working day,” said Vishwanath.

Launched a week ago, about 3% of the users are already using PayU money to make their purchases, and Vishwanath said they expect this number to go up to 5-8% within a month.

“Giving the current digital payments drive, following demonetization of currency notes, we are optimistic about the future of Bitcoin,” said Rahul Kothari, head, PayUBiz.

Launched in 2013, Unocoin is the first company to enter the bitcoin industry. They recently launched a mobile application which offers access to real-time bitcoin market prices and instantaneous trading transactions.