The story of the world’s cheapest smartphone is getting murkier by the day. The company claims to have gotten payment for 30,000 orders worth up to Rs 75 lacs in just two days, while over 7 crore people have registered for the phone. However, the fear for many consumers is this – if the company is not able to deliver on their rather tall promise, what happens to their money?

But it may not be time to panic yet. At least, that’s what the payment gateway involved with Ringing Bells claims.

Ringing Bells has signed with PayU to act as the payment gateway platform for prospective buyers of the Freedom 251. This basically implies that all the money received from orders for Freedom 251 have been stored with PayU in an escrow account in a bank that is registered under their name.

Also Read: Ringing Bells Says the Freedom 251 Smartphone Is Not a Scam!

This was confirmed by PayU when The Quint got in touch with them.