Mobile wallet player FreeCharge on Thursday (21 January) launched its new virtual card 'FreeCharge Go', in partnership with Yes Bank and powered by MasterCard.
Called FreeCharge Go, the virtual card is linked with FreeCharge’s digital wallet service and will facilitate its universal acceptance across online merchants in the country.
“In India, digital wallets are emerging as the new trend among consumers in tandem with smartphone adoption and rise in the number of internet users. Consumers are fascinated with the digital wallet as its use has been expanded beyond paying bills and it is a hassle-free way to make payments from anywhere. The potential of digital wallets is promising as it has simplified the online payment process,” said Porush Singh, Country Corporate Officer, India and Division President, South Asia, MasterCard, explaining the rationale behind the partnership.
The payments company says that the card can be activated within seconds after which customers will be able to see a 16 digit MasterCard number with an associated CVV in their FreeCharge account. The card details are only accessible after entering security MPIN every time the customer has to view the card details to protect customer information. In addition, every transaction using the card needs to be verified by an OTP which is sent to the registered mobile number.
“FreeCharge Go card can be generated by the consumer in less than 5 seconds. Also, the card will be accepted universally across all major online portals in India. Transacting online will not only be swifter and safer with FreeCharge Go but universal too,” said FreeCharge CEO Govind Rajan.
FreeCharge Go is expected to soon launch a marketing program with targeted and personalised offers for customers based on their usage patterns.
Currently, FreeCharge wallet has over 15 million registered users.
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Simar Singh is one of the youngest members of the BW team. A fresh graduate from IIMC, she also holds a degree in political science from LSR. She enjoys covering power, startups, lifestyle and a little bit of tech.
