Truecaller Pay, the UPI based payment platform of Truecaller stated that the app is expecting to bring on board 25 million users by March 2019, organically. The platform is currently witnessing up to 100,000 users linking their bank accounts on a daily basis, of which as much as 50% of the new users are experiencing UPI for the first time.
To give a boost to this mission, Truecaller Pay has also recently tied-up with NPCI’s Bharat Bill Payment System that will encourage more users to make bill payments across utility services like electricity, water, gas, telecom and television recharge among others instantly. The platform is currently live with 60+ billers and is expected to have 125+ billers in a few weeks. In addition to this, Truecaller users will be able to make one tap bill payments from within its SMS notification feature, giving them a seamless payments experience.
Expressing his thoughts on the projection, Sony Joy, Vice President, Truecaller Pay, said
Since we launched Truecaller Pay, we have been receiving an extremely encouraging response from our users. Due to this, we are even more committed to strengthen our payment platform and aggressively work towards bringing more features to the app. Our partnership with BBPS is one such initiative. We are confident that this will enable access to digital bill payments for the masses.
People use Truecaller to stay ahead. It helps them know who’s getting in touch, filter out unwanted calls and SMS, and focus on what really matters. The company provides a suite of unique services such as a dialer that offers caller ID, spam detection, messaging and more. Truecaller’s mission is to build trust everywhere by making communication safe and efficient. Headquartered in Stockholm, Sweden, the company was founded in 2009 by Alan Mamedi and Nami Zarringhalam. Investors include Sequoia Capital, Atomico and Kleiner Perkins Caufield Byers.