JewelHub & PayUMoney to offer simplified payment options to users

JewelHub recently announced that it has tied up with PayUMoney to offer simplified payment options to its users and exclusive benefits to PayUMoney users. Jewel Hub, that has set a revenue target of Rs 60-70 crore over the next 18-24 months, is planning to open a few stores at select locations to let its customer  touch and feel the products.
 
"As part of the deal, Jewel Hub would work-out exclusive discounts for PayUMoney users from time to time,” said Bhavin Mehta, Co-Founder and Director of JewelHub.
 
The Domestic Gems & Jewellery Industry has a market size of Rs. 251000 crore (US $ 40.45 Billion) according to the last available study done by leading industry body. Current online business is approximately less than 1% of the total jewellery business in India with a huge potential for the business to grow in coming years.
 
Gurgaon-based PayUMoney, that offers digital payment solutions, has recently seen its customer base soar to over 8 million customers. PayUMoney had in the past also indicated that it was looking to increase its merchant customer base to 5 lakh by October 2016 and its wallet customers grow fourfold to about 30 million.