Update: On Monetization, Anuj Kumar, ED (South Asia) for Affle tells us that like their own leaderboard (which currently awards people for inviting users to the application), they could roll out sponsored leaderboards based on activities that users perform. Additionally, they encourage users to mark their journey and location, like foursquare, and in the future, could deliver promotional offers to users taking a particular route – based on whether specific promotions have been enabled by users. Right now, there isn’t a loyalty program in place, but it’s more about comparing notes on journeys and distance traveled, with friends. Additionally, Affle has extended the $0.99 / र 45 pricing for another two months.

Earlier: Affle, the Microsoft and Itochu funded mobile messaging and advertising company has launched Pinch, its first smartphone messaging application. Pinch is a Smartphone to Smartphone instant messenger application and chat service with location based features, emoticons, pictures, rich animations and more importantly, push notifications. It’s priced at $2