Digital wallet FreeCharge, India’s fastest growing digital payments platform has achieved another milestone in its journey towards a cash-less society. The company has registered one million active users for its ‘Chat-n-Pay Service’, a way of enabling social payments between person-to-person and person-to-merchants payments, in just two months of its launch.
Founded by Kunal Shah and Sandeep Tandon August, 2010 FreeCharge is an e-commerce website headquartered in Mumbai, Maharashtra. It provides online facility to recharge any prepaid mobile phone, postpaid mobile, DTH & Data Cards in India. On 8 April 2015, Snapdeal acquired FreeCharge what is being referred as the biggest takeover in Indian e-commerce sector so far and the biggest Venture Capital exit in India to date
The Chat-n-Pay service comprises of various features like request money, send money, and split bill. The percentage of send money feature has been dominant with 48% followed by the service to request money for 46% and lowest being for split bill 6%, for one million users.
Customers have been using all the three services actively to recharge, pay bills, and split bills among friends and colleagues. The Chat-n-Pay service also has over 50,000 merchants registered on the platform across Delhi, Mumbai, and Bangalore accepting digital payments. The services include taxi drivers, saloons, kirana stores, etc .
“We are excited to see over one million users transacting digitally via our Chat-n-Pay service. We forayed into social payments with an intent to enable merchants from both organized and unorganized sector easily register on our platform and accept digital payments in less than 10 seconds,” said CEO Freecharge, Govind Rajan.
“For consumers, the intention was to ride on the existing habit of chatting and further empower them to use this mean to also pay for different services. We are confident that Chat-n-Pay will further accelerate the adoption of digital payments among Indian consumers and merchants at zero investment,” he added.
FreeCharge is at the forefront of launching technologies which enable a payment success rate of 99 percent making it one of the fastest payment platforms in the country.
The new innovations are making it easier for merchants and consumers to join the digital payments journey and expand itss digital payment ecosystem.