FreeCharge Crosses 500 Million Transactions

BWI | June 28, 2017

Online partnerships driving growth; Fuel and food categories leading way in offline partnerships

Amidst increasing digital payments preference and awareness amongst consumers, FreeCharge today announced that the number of transactions on its platform has crossed 500 million, with the value of these transactions exceeding USD 1.2 billion.

Mobile recharges remain the biggest component of the transactions done on FreeCharge. Apart from recharges, nearly 20% of the wallet transactions happening on the platform are on one of the company’s online merchant partners. This is closely followed by offline partnerships wherein Fuel and Food are the top two categories driving adoption and transaction.

The company also recently announced the launch of coupons on its e-wallet to enhance user engagement, where users can benefit from every recharge and bill payment they make on FreeCharge. The coupons enable users to access great deals and discounts on prominent brands across various categories including food, shopping, travel, ticketing, and entertainment.

Speaking on the milestone, Ankit Khanna, Chief Operating Officer – FreeCharge said, “The achievement of this milestone and the large proportion of repeat customers is a testimony to the superlative consumer experience that FreeCharge consistently delivers. We are committed to further promote the habit of digital payments among users by making available the option to pay via FreeCharge at as many platforms and stores as possible.”

The company is focusing on both online and offline partnerships to enhance its digital footprint in the payment space. Few of the prominent online merchants for the wallet firm include IRCTC, foodpanda, swiggy, bookymyshow, redbus, zomato amongst many others. In the offline space the prominent partners include McDonalds (West and South), Pantaloons, Shoppers Stop, Café Coffee day, Barista, Heritage Fresh and many others.

About Freecharge

FreeCharge is India’s leading digital payment services firm. Consumers across the country use FreeCharge to make payments for their prepaid recharges, postpaid bills, DTH recharges, broadband recharges, utility bill payments such as electricity across nearly 25 distribution companies, gas and water. In addition, consumers can use their FreeCharge wallet to pay for their fuel purchases, travel and commute bookings, food delivery and dining, movie and event tickets, shopping needs across leading offline and online merchants. FreeCharge’s prominent merchant partners include HPCL, IOCL, IRCTC, foodpanda, Swiggy, Zomato, Mcdonalds, Shoppers Stop, Pantaloons, bookmyshow and a host of others. FreeCharge has millions of registered users, is PCI DSS compliant for information security and insures the wallet balance up to 20,000 of its users in case of mobile theft, thus being one of the safest e-wallets to use. With more than 90 percent of transactions originating from its app, FreeCharge is at the forefront of the mobile commerce revolution.

For more details, please visit https://www.freecharge.com or download the FreeCharge app