FreeCharge digital payments platform has announced that it has crossed 5 million mark in mobile wallet users in less than four weeks since its launch. FreeCharge Wallet 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 as stated by the company in its press release.
Acording to the company, consumers across the country use FreeCharge to make prepaid, post-paid, DTH and Electricity bill payments for numerous utility service providers in addition to leading online and offline merchants. FreeCharge has 30 million registered users, is PCI DSS compliant for information security and is at the forefront of the mobile commerce revolution with over 90 per cent of transactions originating from mobile.
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, adds the statement of the company.
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.”