FreeCharge sees success; inches closer to creating cashless economy

BENGALURU: Digital payments platform company, FreeCharge has registered half a million, ‘FreeCharge Go’ card creation within 10 days of customer roll out. With this, FreeCharge says that the company has inched closer towards its vision of creating a less cash economy.

The ‘FreeCharge Go’ card is linked with the FreeCharge wallet and makes the wallet universally accepted across all online merchants in India. The card was launched in association with YES Bank and is powered by MasterCard. Through FreeCharge Go, the company says that its customers experience much swifter and ubiquitous transactions. They can top it up by adding money to their FreeCharge wallet and use it on-the-go for all their online transactions.

Commenting on the record, Govind Rajan, Chief Operating Officer FreeCharge said, “FreeCharge wallet has crossed 20 million wallet users with over a million transactions a day. Today we have crossed half a million mark for our on the GO card which is a great indicator of how the country is moving towards digital payments. We at FreeCharge are confident that by end of 2016 we will witness a huge transformation in customer spending patterns with more and more transactions becoming digital.”

With a strong focus on creating a frictionless customer experience, over 99% of transactions on FreeCharge are completed in less than 10 seconds. ‘FreeCharge Go’ is built to ensure the safety and security of customer data, with state of the art technology wherein data is secured with 128-bit encryption and stored as per PCI DSS compliance. In addition, every transaction using the card needs to be verified by an OTP which is sent to the registered mobile number. The virtual card is accepted at all major e-commerce portals and can be used to pay for movie tickets, book event tickets, pay for various transportation services and leveraged for hyperlocal services across all Indian websites.