Digital payment firm PayU plans Rs 60-crore advertising campaign

NEW DELHI: Digital payment company PayU has earmarked Rs 60 crore for its first ever brand campaign, to be launched in a few weeks as it looks to more than double its user base in a couple of months.

PayU, which is backed by Nasper, has appointed Leo Burnett as its creative agency following a multi-agency pitch.

It has signed Mindshare as the media agency. Nitin Gupta, co-founder & CEO of PayUIndia, said the firmintendsto increase its user base to 8 million from 3.7 million in two months and the number of merchants to one lakh from 65,000, with the help of this campaign.

PayU,which started operations in India in 2011, will spend 60% of the campaign money on television while the rest will be split between digital and outdoor. It provides payment solutions to several ecommerce companies, including Snapdeal, Jabong, Bookmyshow, Cleartrip and Groupon.