The service was launched during Raksha Bandhan, enabled the users to send money to their contacts along with customised postcards.
But then, the Department of Post had objections with the product name Postcard. So, now the brand has now decided to rename it as Lifafa.
According to Paytm, within 24 hours of its launch, Postcard reported a drastic rise in transactions. The service is still receiving great views despite having crossed three weeks and has already registered half a million transactions.
“Paytm Lifafa offering has gained a lot of traction within a short period of time. We are rebranding it to ‘Lifafa’, a native word that holds a strong emotional connect and social relevance across generations. This will help in further establishing our payments offering as the go-to platform to send money instantly,” said Deepak Abbot, Senior Vice President, Paytm.