FreeCharge launches insurance policy for mobile wallet users

With this move, FreeCharge takes another step in proactively addressing consumer concern around the usage and security of e-wallets, safeguarding the money of the consumer in the event of theft or loss of his/her phone.

Under this wallet insurance arrangement, the underlying wallet balance of all the customers will be insured up to a limit of Rs 20,000, as long as the user is transacting at least once a month. In case of a phone loss or theft, all the customer needs to do is to file an FIR within 24 hours at the local police station and report the same immediately to FreeCharge via e-mail or by calling customer care.