FreeCharge Wallet Transaction Up by 400 Percent

FreeCharge today shared that the number of cards and addresses saved on the wallet by users has now crossed 70 million.

There are various ways to load a wallet - a credit / debit card being one of the most used option. Frequent users of the wallet often save their card details with FreeCharge and required just to add their CVV number and OTP to load additional amounts on the wallet. These card details are saved on FreeCharge by users for a quick transaction. Consumers also save their addresses on their FreeCharge wallets, which leads to faster check-outs for delivery transactions.

FreeCharge also shared that the frequency of usage by frequent users has jumped from about 5+ times a month to more than 15 times a month in the last 15 days. The number of wallet transactions have also up 400 percent  in the same period over 45 percent of the users in this time period are new users indicating widespread adoption of the wallet.

Govind Rajan, CEO, FreeCharge sees this as a sign of increasing user faith in digital transactions. “An increase in the saved card data by our existing and new consumers is a positive trend and also showcases the intent to do more digital transactions. It is a reflection of the trust which customers are placing on Freecharge. The increase in frequency of usage coupled with the increase in wallet load limits sets the pace for greater use of wallets in the daily lives of our users – both for small and higher value transactions.”