FreeCharge Wallet Crosses 1 Mn Users Within A Week Of Customer Rollout

Digital payments platform, FreeCharge has announced that it now has over 1 Mn customers. Customer rollout of the FreeCharge Wallet was initiated on 25^th September.

Govind Rajan, Chief Operating Officer, FreeCharge and Chief Strategy Officer, Snapdeal said, “ This is the fastest not just for wallets but for any digital product! This milestone is a testimony to the trust that consumers have on FreeCharge. Speed and security are two pillars of the consumer experience. With FreeCharge Wallet customers are able to make their transaction within 10 seconds. FreeCharge is compliant with leading industry standards like PCI DSS, making FreeCharge the quickest and most secure wallet”

FreeCharge Wallet leverages technologies such as HCE, NFC, QR code and BLE to create a intuitive consumer experience. Though FreeCharge does not own an open mobile wallet license as of now, the company has tied up with Yes Bank to launch its wallet and Fino tech for payment bank. The company has also received an “in-principle” approval for a semi-closed wallet and may launch its own wallet over time.

FreeCharge as a platform has 29.8 Mn registered users and on an average FreeCharge platform witnesses 5 transactions per month per user.

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