It’s FreeCharge Vs. Paytm in e-payments space now
Advertisement
Advertisement
Snapdeal’s recharge and bill payments arm FreeCharge is pulling out all it’s stocks to trump segment leader “We’re the fastest to reach this milestone not just in the digital payments space but also in case of any internet-based products. At this rate we’ll easily get 35 million wallet signups by March 2016”, Govind Rajan, COO, FreeCharge told BI India.
What more, you can pay from your FreeCharge wallet across 50 merchants including Shoppers Stop by this December.
When asked about the average token size on FreeCharge, Rajan reminds the recharge business is very different from regular e-commerce. “In recharge it’s the number of transactions that matter more than the token size. The average token size for recharge is Rs. 150. For bill payments it's Rs. 500. That's almost 15 times higher in case of e-commerce”, he says.
When asked about their biggest competitor in the race Paytm, Rajan is non-chalant. “I’ll say our biggest competition is Cash. The challenge here is to build user growth via awareness and user experience.” Rajan says.
Advertisement
...But boy are they pouring in cash!FreeCharge has expended over Rs 2,000 Crores as coupons on Snapdeal to get itself known.
When asked why India needs wallets, Rajan says, “India has four-times the cash in comparison to the rest of the BRIC countries. We’ll add 100 million smartphone users in the next 12-18 months. We need a product that is swifter and safer than cash, and this is it.”
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- Unemployment among Indian youth is high, but it is transient: RBI MPC member
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market