As prime minister Narendra Modi, Tuesday evening in his address to the nation announced that Rs 500 and Rs 1000 notes will no longer stand as legal tenders, people across the nation were left in a state of shock. PM Modi also said that the ATM withdrawal limit will stand at Rs 2,000 only, post which long queues were seen outside the ATMs. On one hand we saw people appreciating the move and on the other we saw them criticizing the government for not being considerate enough for citizens and migrants who do not yet have a bank account. Nevertheless, where almost everybody frantically searched online for more information about the decision, some startups got all creative to extract the most out of the historical announcement. Paytm, Freecharge, Amazon and Uber being one of the few. Paytm, an online wallet startup which was launched in 2010 is known for its quirkiness. It was one of the first to react online to PM Modi’s speech. Paytm through its Twitter handle said “ We have got two words for you: Paytm Karo” – “Paytm Karo” being their tag line. With this one tweet, they implied that they have long been asking people to make online payments.
We have got two words for you: Paytm Karo.
— Paytm (@Paytm) November 8, 2016
Freecharge, another online wallet had full page advertisement in national dailies. The advertisements read ‘Cash is so yesterday’ and ‘1000, 500 reasons to move to freecharge’. Uber, the online transportation service which has gradually set its feet in India with several customised features for the Indian market, did not stay behind either. Minutes after prime minister’s speech, Uber’s official Twitter handle said, “ We’ve always said choice is a great thing. Switch to digital payment modes starting midnight”.
We’ve always said choice is a great thing. Switch to digital payment modes starting midnight #UberOn
— Uber India (@Uber_India) November 8, 2016
Flipkart, however took some time sink in the situation and come up with something and this is what they said “Let’s say goodbye with a smile! Get 5% cashback on money transfers with PhonePe! #IndiaFightsCorruption #IndiaLetsGoDigital”
— PhonePe (@PhonePe_) November 9, 2016
Amazon India on the other hand kept it utterly simple.Their Tweet read “ In compliance with Ministry of Finance’s instructions, delivery associates won’t accept Rs500/1000 from 9thNov.”