FreeCharge, India’s leading digital payments platform, have announced that it has crossed 5 million mark in mobile wallet users, a 4x wallet user base growth in less than four weeks. With this momentum, FreeCharge continues to set new records in terms of building user base.
It was the fastest to reach 1 million mark within a week of the launch. Customer roll out of the FreeCharge Wallet was initiated on 25th September, making this wallet the first in the country to achieve the milestone of 5 million users within 30 days of customer roll out.
FreeCharge Wallet has seen over 40% of growth from new use cases from Snapdeal and Mumbai metro and expect the numbers to grow with new merchants getting added. The FreeCharge Wallet witnessed great response during the Snapdeal Diwali sales.
Thrilled with the achievement, Govind Rajan, COO, FreeCharge and CSO, Snapdeal, said
5 million users in less than 4 weeks, reflects our focus on the user experience. What delights us is not just breaching the 5 million mark, but the quality that underpins it. With an average of > 5 transactions per user, it is not just the fastest quantity but best quality as well. The FreeCharge app was rethought from the ground up to sharpen focus on habit commerce. All payment transactions are now a tap away and can be finished in under 10 seconds.
The growth is fundamentally driven by user experience and we are scaled up thus far without any advertising. FreeCharge Wallet is currently being used by Snapdeal and FreeCharge customers and will be soon extended to many other merchants. We are focused on creating Habit commerce and making payment transactions smooth, swift and secure for consumers and merchants. We foresee digital payments as a game changer in online commerce in near future.
The core of the design philosophy at FreeCharge is centred on design that helps build habit. The ease of use on FreeCharge platform allows consumers to complete all transactions in less than 10 seconds. Customers are Auto enrolled and this helps in repeat transactions even faster with just 1 click. With a great user experience consumers transact with a high degree of Frequency on FreeCharge. On an average consumers transact over 5 times a month and an average of over 50% of the users transact every month on FreeCharge.
FreeCharge is compliant with leading industry standards like PCI DSS, making it the quickest and most secure wallet. FreeCharge wallet is powered by cutting edge technology. It is a robust and flexible platform that leverages enabling technologies such as HCE, NFC, QR code and BLE to create a most intuitive consumer experience. FreeCharge’s aim is to build habit commerce and through its partnerships, FreeCharge is set to generate the most compelling consumer experience.
About FreeCharge
FreeCharge is India’s leading digital platform for recharge and utility payments which provides prepaid, post-paid, DTH and Electricity bill payment for almost all Indian service providers. FreeCharge was founded in 2010 by Kunal Shah & Sandeep Tandon and had received funding of over $120 million in the last 4 years. In the largest acquisition in the consumer Internet space yet, Snapdeal acquired FreeCharge in Apr’15 resulting in India’s largest m-commerce ecosystem. For more details, please visit FreeCharge