03 August 2016 Current Affairs GK: India's fastest growing digital payments platform Freecharge has partnered with the leading payment gateway solution provider, PayUbiz, to further strengthen its merchant base and help consumers move from cash to digital payments.
This integration allows Freecharge to tap PayUbiz's more than 10, 000 online merchants. Furthermore, the latter's wide assortment of merchants across sectors will also be accessible to Freecharge patrons.
The partnership draws Freecharge closer its vision of creating an ecosystem where organized and unorganized merchant networks can accept electronic payments through one secure platform.
The Freecharge wallet is currently accepted at over 1, 00,000 merchants in India and this partnership with PayUbiz will further fortify its merchant outreach.
Customers paying through the Freecharge wallet will also be able to avail exclusive offers and additional discounts on spends at the registered merchants.
This partnership marks a new milestone in the digital payment space in India. PayUbiz being a leading payment service and product player and Freecharge a leading company is mobile wallets space; this strategic alliance is touted to bring the best of both, where Freecharge provides consumer acceptance and PayUbiz provides merchants acceptance.
This reciprocally profitable, bilateral alliance will also allow the merchant base of PayUbiz to see an upsurge in first-time usage as well as repeat purchases by getting access to Freecharge user base.
At the same time, Freecharge will be able to acquire new customers and gain wider acceptance across categories as a payment option.
Both the stakeholder believe that partnerships are critical to scale acceptance and build the habit of digital payments. The UI and transaction experience ensures that consumers have the swiftest yet safest digital payments experience.
Enabling wallet payments with merchants gives the ubiquity and reach that is required to take India to a cashless.
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