My Pay digital wallet, which is becoming popular among the young generation in recent days, has released My Pay Coin as a new feature. 1 quine is equal to Rs. According to My Pay, Coin has been released with a price of 1.
According to My Pay, this is the first wallet that can use Coin for every transaction. Along with this, My Pay users are getting up to 4 percent on mobile top-up and data packs, up to 2 percent on television bill payment, up to 2 percent on internet bill payment and the highest money return offers for booking airplane tickets. According to My Pay, the money coming back is divided into cash and coins.
For example, if you do a mobile top-up of Rs 1,000 from My Pay, you get 4 percent (Rs 40) back. In which Rs 20 will be added to the main balance of your wallet as cash and the remaining 20 will be deposited as coins. My Pay says that you can get coins in this way in all transactions done through My Pay.
The coins obtained in this way can now be used by customers in any subsequent transaction. Let’s say you have accumulated 20 coins from your first job.
Now you have paid an internet bill of Rs 1,000 as another transaction. Now when you pay a bill, your My Pay wallet shows three options.
When you choose the first option, the transaction will be done from the balance in your wallet, and as the second option, if you have linked the bank to the wallet, you will see the option to pay the amount directly from the bank account. As a third option, you can combine balance and My Pay Coin to transact.
For example, when paying a bill of Rs 1,000, you can pay Rs 980 from your wallet and Rs 20 from My Pay Coin instead of cash. Even after this payment, you can get cash and My Pay coins as cash refund and My Pay said that these coins can be used continuously.
If the user does not have enough MyPay Coins, the third option will not appear, according to MyPay. According to My Pay, the user has to complete KYC while using Coin.
‘Until now, it was found that there is a problem with the limited use of loyalty points and their use,’ said Manoj Kumar Mehta, the chief executive officer of My Pay.
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