Freecharge, the popular mobile recharge App which was earlier acquired by Snapdeal for a whopping $400 million (Approx 2400 Crore), has finally launched its mobile wallet in India, called Freecharge Wallet.
The company demonstrated speedy mobile recharges from the new wallet app and plans on making it accessible on several other portals in due time. The company clarified that the Freecharge Wallet was delayed because the company took its time for extensive research before actually making it official.
The mCommerse market in India is expected to grow to 19 billion by 2019, in synchronization with increasing smartphone sales and Mobile internet revolution in India. More and more Indians are now comfortable making online transactions and most of all recharge apps have emerged as high priority utilities.
As per analysts, about 90 percent of mobile transactions will come from online wallets in the next 2 to 3 years and thus it makes total sense for Freecharge to leverage its userbase and transform in to a full-fledged wallet. If all goes well, you can pay at different shopping portals using your freecharge wallet.
The Freecharge wallet is still not available for download, but shall be listed for Android and iOS in the next few weeks.