FreeCharge, a digital platform for recharge and utility payments, which was acquired by Snapdeal in April, announced the launch of FreeCharge Digital Wallet that will facilitate quick and secure web as well as mobile payments.
The Wallet is a combined account between Snapdeal and FreeCharge, to which users on both platforms will migrate and can access by logging into either their FreeCharge or Snapdeal accounts.
The two companies have a combined base of 87 million registered users, who will all get app upgrades to be able to use a single account on the Wallet. Debit and credit card details stored on either company’s database will now come under the same account, making it easier for customers to use. Speaking at the launch, Anand Chandrasekaran, Chief Product Officer of Snapdeal, said that the Wallet, which was built in four months by a combined team of engineers from FreeCharge and Snapdeal, was a complex project that would upgrade 87 million users onto a single account and enable transactions in 12 seconds.
“With the Wallet, we are focused on trying to drive habit formation among our customers. The goal is to become invisible while facilitating simple, quick transactions for customers,” he said. In line with Snapdeal’s vision of building the most impactful digital commerce ecosystem in India, the FreeCharge Digital Wallet will enable a culture of digital payments through multiple partners.
Partnerships
In addition to a large network of 100-plus merchant partners, FreeCharge will partner with FINO, a payments bank licensee, to build scale and ability to even reach the under-served. The Wallet will be available in app stores soon.
“FreeCharge has hit an important milestone in its journey today. With the FreeCharge Digital Wallet, we are all set to transform the way people make payments,” said Kunal Shah, CEO and co-founder of FreeCharge.