No PayUmoney after January 31, 2018! Transfer your money, now

The news of closing down the popular payment wallet comes after the Reserve Bank of India introduced new guidelines for the wallets

Gurgaon-based payments major PayU India is shutting down its mobile wallet — PayUmoney at the end of January 31, 2018, a company statement said. 

When a user opens the mobile wallet, it redirects users to the page where the instructions are given on how to send the unused balance to bank accounts. Citrus wallet, PayU India's another payment wallet will continue their operations, company said. 

“We will be terminating PayUmoney’s wallet, which is in partnership with RBL Bank. As part of the consolidation of our business, instead of operating two wallets, we have plans to focus our synergies on Citrus