bangalore online payment solution provider payumoney has acquired mobilebased payment application startup eashmart to strengthen its mobile payment platform and enable small and medium businesses to go cashless eashmart founded by amit kumar a btech in avionics from indian institute of space science technology enables consumers to use creditdebit cards to make payments without having to swipe the card in a swipe machine the five member eashmart team will join payumoneys app development vertical the deal value was not disclosed by the company increasingly more and more customers do not carry cash but are forced to make a trip to atm to pay for deliveries or small ticket items like food groceries pizza etc said nitin gupta cofounder and ceo payu india we want to get all these small momandpop stores on mobile and give customers the flexibility to pay even rs 10 from their credit card the time is now to solve the mobile payment issue as traffic is increasingly moving to mobile devices said rahul chowdhri partner at helion venture partners mobile has the fastest growing traction since most of the smaller towns and cities in india are coming online on mobile first with payumoney app transactions can be paid online through the users mobile phone the customer needs to identify the shopmerchant enter the amount and pay in all cases real time confirmations is sent to user delivery boy and the shop owner the company has signed up 200 small merchants including startups freelancers schools residential societies traders and retailers restaurant chain yo chinas gurgaon outlets are using this product to offer an alternative to cash payments to the customer at time of home delivery the whole mobile interface is so smooth and simple that customers make payments in few clicks and seconds said sandeep mahajan a franchise business partner at yo china the app does not require merchants to install or buy any hardware it also eases the payment process by sensing the onetime password from users mobile phone without having the user to type password from the text messages with uber ola meru are changing user behaviour of paying online for a physicallypresent cash payment this trend will only increase and more physicallypresent cash payments will start getting substituted by online payments said payus 31yearold gupta an iimahmadabad graduate and former investment banker at lehman brothers by aditi shrivastava et bureau published on oct 13 2014 at 0713 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etretail app get realtime updates save your favourite articles scan to download