Online payment major FreeCharge has recently witnessed a 15 per cent hike in its transaction on a monthly basis soon after expanding the merchant base in the country. The Bengaluru-based company, which eyes at a massive merchant base of around 5 million over the next 18 months, has now has 1,00,000 merchants on its platform.
Commenting on the same, Govind Rajan, CEO, FreeCharge said that FreeCharge has hit one-million transactions a day in February this year and since then, the company is growing at a rate of 15 per cent every month.
Its merchant partners include brands like Shoppers Stop, McDonalds, Cafe Coffee Day, Cleartrip, RedBus and OYO.
As per Rajan, the company, in last 8 months, has expanded its reach in various sectors like F&B, travel, e-commerce, retail, entertainment, ticketing, among others, making the wallet ubiquitous in consumer's daily lives.
Snapdeal acquired FreeCharge in April last year which was one of the biggest deals in online mergers and acquisition. Though none of the companies disclosed the deal size, but it was assumed to be a $400 million deal.
After its integration with Snapdeal, Freecharge does not break out number of users. In November last year, it had said it gained around 10 million registered active users for its wallet service within 60 days of customer rollout.