India’s leading digital payments platform, FreeCharge, has recorded 1 million transactions a day. This phenomenal growth has been achieved by the company in about 4 months, since the wallet launch. The company has set a targe to achieve 7 million transactions a day by end of 2016. Keeping in view of their very quick growth, the aimed figure looks achievable.
FreeCharge soon after the wallet launch also introduced new categories like bill pay and metro recharge.With numerous new features like auto enrol and repeat, bill reminders, which enables consumers to complete a transaction within 10 seconds, FreeCharge has increased customer stickiness on its platform.
Govind Rajan, Chief Operating Officer FreeCharge said, “We are focused on creating the digital habit. At FreeCharge, UI is super important. We want to make sure all transactions are completed within 10 seconds. And this focus on stickiness has paid off. 75% of our customers are repeat customers. The milestone of 1 million has been achieved in just 4 months since launch. We are confident at this rate of growth and stickiness we will cross 7 million transactions a day by the end of the year”
Recently FreeCharge launched the Freecharge Go Card in association with MasterCard with the aim of enabling ubiquitous online shopping. It enables the customers to use the wallet on all online stores in the country. The Freecharge Go card has already seen over half a million cards issued within 10 days of its launch.
