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.