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Deal confirmed: Axis Bank buys FreeCharge from Snapdeal for $60 mn

Axis Bank's financial chief put the move in context, saying digital payments were surging in India

Reuters  |  Mumbai 

FreeCharge

Ltd , India's seventh-biggest lender by assets, said on Thursday it had agreed to buy mobile payments wallet provider FreeCharge from company Snapdeal for Rs 385 crore ($60.04 million).
 

"Digital payments in India are surging. Government policies are driving a less-cash economy," finance chief told a conference after announcing the deal.
 

 

 

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