FreeCharge wallet to prompt habit commerce, crosses 1 mn users

E-commerce player Snapdeal-backed utility payments platform FreeCharge wallet is looking to prompt habit commerce in the country as the newly-launched digital service claimed to have crossed one million customers in five days.

"Our focus is on building habit commerce in India. To get consumers to move from the habit of cash to e-cash. To create this habit the consumer experience needs to be much better than cash - faster, more secure, and more rewarding," Govind Rajan, chief operating officer of FreeCharge and chief strategy officer of Snapdeal, told IANS.

"... over 60 percent of our consumers are monthly repeat, with an average of over five transactions a month. Nearly two of the three visitors end up transacting and 86 percent of our users are from mobile," he added.

"We believe the critical task in payments is to enable the ecosystem and to progress, one needs a deep culture of partnerships," he added.

About hitting the on million mark, Rajan said:" This is the fastest not just for wallets but for any digital product. This milestone is a testimony to the trust that consumers have on FreeCharge. With FreeCharge wallet customers are able to make their transaction within 10 seconds."

The company is also rolling out a Diwali campaign which will offer customers Rs.500 as reward on purchase of products worth Rs.500 from Snapdeal using the FreeCharge wallet.