Freecharge reaches 500 million transaction milestone with value over $1.2 million

Digital payments company, FreeCharge announced that it has crossed 500 million transaction milestone on its platform, with the value of these transactions exceeding $1.2 billion.

Mobile recharges remain the biggest component of the transactions done on FreeCharge. Apart from recharges, nearly 20 percent of the wallet transactions happening on the platform are on one of the company's online merchant partners. This is closely followed by offline partnerships wherein Fuel and Food are the top two categories driving adoption and transaction.

Recently, the company has announced the launch of coupons on its e-wallet to enhance user engagement, where users can benefit from every recharge and bill payment they make on FreeCharge. The coupons enable users to access great deals and discounts on prominent brands across various categories including food, shopping, travel, ticketing, and entertainment.

Ankit Khanna, Chief Operating Officer, Freecharge, said, "The achievement of this milestone and the large proportion of repeat customers is a testimony to the superlative consumer experience that FreeCharge consistently delivers. We are committed to further promote the habit of digital payments among users by making available the option to pay via FreeCharge at as many platforms and stores as possible."

The company is focusing on both online and offline partnerships to enhance its digital footprint in the payment space. Few of the prominent online merchants for the wallet firm include IRCTC, Foodpanda, Swiggy, Bookymyshow, Redbus, Zomato amongst many others.

In the offline space the prominent partners include McDonalds (West and South), Pantaloons, Shoppers Stop, Cafe Coffee day, Barista, Heritage Fresh and many others.