Dream Sports, the parent company of India’s largest fantasy sports platform, Dream11, launched a mobile payments app called DreamX on March 30, 2023, just a day before the Indian Premier League (IPL) kicks off.

This new app will allow users to spend their winnings across various transactions, including UPI transfers to friends and family, paying for offline and online purchases by scanning QR codes, and paying utility bills such as electricity, water, and broadband bills, among others.

The launch of DreamX comes ahead of the 2023 edition of the IPL tournament, which is expected to witness peak usage from players and significant user acquisitions to grow their respective bases. With this app, Dream Sports will take on rivals such as PhonePe, Google Pay, and Paytm in mobile payments.

DreamX is currently available on Google Play Store and Apple App Store in public beta and is powered by UPI and Bharat Bill Payment System (BBPS). Now, users can only access DreamX if they have a Dream11 account. The app is linked to the user’s Dream11 account, and one cannot sign up for the service on the DreamX app itself.

Dream Sports has partnered with Pine Labs, which has a Prepaid Payment Instruments (PPI) licence, for this initiative. The app will allow users to order gas cylinders, pay credit card bills, insurance, policy premiums, and loans, and invest in companies like Rario, besides Dream11.

DreamX mentions that it will offer rewards and showcases from Dream Sports’ ecosystem, including sports content and commerce platform Fancode, sports experiences platform DreamSetGo, and other investee companies. Notably, Dream Sports already offers payment solutions for online merchants through its DreamPay division.

DreamPay Wrapper helps boost payment success rates and balances load during peak traffic periods, while DreamPay Recon helps with payment reconciliation through automated settlement and reporting, among other features.