1 Coin = Re. 1
Users earn coins for each transaction as a reward
Coins can be used for utility payments in defined ratio
Thus, every coin is as good as a rupee
MyPay Coins is the first of its kind rewards system as part of the MyPay Loyalty Program that can be used to pay utilities and purchase commodities as well. MyPay has recently launched MyPay Coin, whose value is Re. 1 per coin and it is as good as money.
You will earn certain coins as you perform different transactions and the same can be used for payment of utilities as well. Thus, we can conclude that 1 Coin = Re. 1
You will earn MyPay Coin on every MyPay transaction performed on MyPay App. Coins will be credited at a predefined rate. You can check earning rates for MyPay Coins at www.mypay.com
For example: If you recharge a top-up of 1,000, you will receive a total 4% refund i.e. Rs. 40. You will receive 2% of that as an immediate cashback (Rs. 20) and 2% as MyPay coins. (20 coins). The value of each coin is Re. 1 that you may spend in your future transaction.
MyPay Coins earned are as good as money and you can use the same in the future for bill payments. These coins can be used in the defined proportion of the bill amount.
Example: You have to pay a Vianet bill payment of Rs 1,000. You'll get three options to pay
If you select the third option, your transaction will be for a wallet balance of Rs. 980 + Rs. 20 MyPay coins.
MyPay Coins will expire every quarter based on Georgian calendar. Every year that is four quarters.
1st Quarter: January - March
2nd Quarter: April - June
3rd Quarter: July - September
4th Quarter: October- December
You will receive 15 days prior notice before your coin accumulates; the MyPay coin must be used and consumed within the allotted 15 days.
For more T&C : click here