What if someone said you could collect the long forgotten Bank Royalty points, Corporate Reward points and e-Wallet cash, and splurge it on shopping, dining or that vacation you were planning?
Woohoo lets you do just that. It’s an app that aggregates multiple payment options in a single platform for consumers to transact at various online and offline retail outlets.
The company has currently partnered with 50+ brands. This lets a Woohoo user access 3000+ stores and portals. The list includes apparel and accessories stores like Allen Solly, Westside, Fastrack, Hidesign, Restaurant chains like Noodle Bar, Mani’s Dum Biryani, or Entertainment and leisure outlets like PVR, Cleartrip and others. The brand has no mobile recharge partners as yet.
You could choose to pay using mobile wallets like MobiKwik and Oxigen, Payback Loyalty points, Hifives reward points and many other available options.
So what is the potential market for a product like Woohoo in a country not savvy enough to use wallet services extensively?
“There is a lot of ongoing category creation. India has been leapfrogging the Western world in terms of consumers using their mobile phones for diverse purposes. Anybody who wants to shop or gift online or offline is a potential Woohoo user”, T P Pratap, Co-founder and CMO, of parent company Qwikcilver says.
Can users combine two wallet accounts to pay for a single service, say a movie ticket?
“You have an option to do that. A unique Woohoo code will be generated for each of the wallet accounts. The two can then be used at the movie theater for booking the ticket”, Pratap clarifies.
Make no mistake; Woohoo is not where you book that movie seat or restaurant table or the nice stilettos you saw online. The app only generates a code that can be used as an alternative mode of payment in place of your credit/debit card.
Does it bring more peace of mind to people fumbling to jump onto the Indian e-commerce wagon in fear of divulging sensitive credit/debit card information?
“Consumers are already freer than a few years ago. This method of payment gives them the first step to get over their anxieties of electronic payments”, Pratap observes.
So what’s the way forward for Woohoo?
“There are more currencies coming up, and the option of using credit/debit card for gifting. We’re looking to have 15,000-20,000 brands including Amazon, Snapdeal and Cafe Coffee Day onboard over the next six months”, Pratap says.
In a country that salivates for discounts and prides itself in striking a bargain, if you don’t mind your money being tied up in an online wallet, you can now spoil yourself with indulgences minus the guilt of blowing more cash.
Source: Business Insider India