Freecharge virtual Go card crosses half a million mark.
New Delhi | RNW | By Surabhi Agarwal, ET Bureau | 6 Feb, 2016, 06.39 PM IST.
Snapdeal owned digital payments firm FreeCharge, which launched its ‘Go’ virtual card ten days ago claims to have crossed the ‘half a million’ figure.
The FreeCharge Go card enables payments on most online portal even on the ones that don’t have specific tie-ups with Freecharge. It was launched in association with Yes Bank and is powered by MasterCard.
Govind Rajan, chief operating officer at FreeCharge said that the recently launched Freecharge wallet has crossed 20 million wallet users with over a million transactions a day and the Go card has crossed the half a million mark which is a great indicator of how the country is moving towards digital payments.
“We at FreeCharge are confident that by end of 2016 we will witness a huge transformation in customer spending patterns with more and more transactions becoming digital.”
The virtual card is secured with 128-bit encryption and every transaction using the card needs to be verified by an OTP which is sent to the registered mobile number.
The virtual card is accepted at all major e-commerce portals and can be used to pay for movie tickets, book event tickets, pay for various transportation services and leveraged for hyperlocal services across all Indian websites, the company said in a statement.