The company has also teamed up with FINO PayTech, a financial inclusion solutions and services company, which was recently awarded a license to start a payments bank in India.
About 87 million users of Snapdeal are expected to get the FreeCharge Digital Wallet. Indias smartphone-led internet penetration is allowing consumers to increasingly transact online, be it buying groceries or hailing cabs or renting apartments. Companies such as SoftBank-backed Snapdeal and local rival One97 Communications, which operates another wallet and online shopping site, Paytm, are in a race to become the de facto providers of the payment backbone that is needed for these transactions.
To entice more people to download the wallet, register themselves and start using it regularly, Snapdeal, in partnerships with merchants that sell goods on its website, was looking to return as much as about USD 150 million in cash-back rewards in the coming months.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright